The following financial information was obtained from the year ended 2018 income statements for Johnson Automotive and Lowell Automotive:

Requirements

1.	Compute the times-interest-earned ratio for each company. Round to two decimals.
2.	Which company was better able to cover its interest expense?

E11-24 (similar to) Question Hep The following financial information was pbeained from the vear ended 2018 income staterments for Johnson Automative and Lgwell Automutive. XClick the ion to view the finandial information ) Requiramants urd In twa cecimale which comes sb ...i.. intarest expanse? Requirement 1. Compute the times-interest-earned ratio for each company. Round to two decimals. Begin by showing the formua for the Simes-interast-earned ratio. Times interest eamed ratio Choose from any drop-down ltst and then dick Check Answer - X Data Table Johnson Lowell 65,005$ Net income 82,260 Income tax expense 20,730 21,220 2,600 Interest expense 650 Print Done