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Times interest earned Averill Products Inc. reported the following on the company's income statement in 20Y8 and 20Y9: 20Y9 Interest expense $470,000 $420,000 Income before
Times interest earned Averill Products Inc. reported the following on the company's income statement in 20Y8 and 20Y9: 20Y9 Interest expense $470,000 $420,000 Income before income tax expense 6,063,000 4,704,000 a. Determine the times interest earned ratio for 20Y8 and 20Y9. Round to one decimal place. Times Interest Earned 20Y9 20Y8 20Y8 b. Is the change in the times interest earned ratio favorable or unfavorable?
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Corporate Governance A Pragmatic Guide For Auditors Directors Investors And Accountants Internal Audit And IT Audit
Authors: Vasant Raval
1st Edition
0367862751, 978-0367862756
