Question
The following data were taken from recent annual reports of Caliber Company, which operates a low-fare airline service to more than 50 cities in the
The following data were taken from recent annual reports of Caliber Company, which operates a low-fare airline service to more than 50 cities in the United States:
| Current Year | Preceding Year | |||
|---|---|---|---|---|
| Interest expense | $66,000 | $73,000 | ||
| Income before income tax | 349,800 | 270,100 | ||
a. Determine the times interest earned ratio for the current and preceding years. Round to one decimal place.
| Current year | |
| Preceding year |
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ACC 120 Wake Tech Financial Accounting W Connect Plus Access
Authors: J. David Spiceland
1st Edition
1308168926, 978-1308168920
