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Times interest earned Averill Products Inc. reported the following on the company's income statement in two recent years: Current Prior Year Year $ 400,000 4,400,000
Times interest earned Averill Products Inc. reported the following on the company's income statement in two recent years: Current Prior Year Year $ 400,000 4,400,000 Interest expense $440,000 Income before income tax expense 5,544,000 a. Determine the times interest earned ratio for the current year and the prior year. Round to one decimal place. b. Is the number of times interest charges are earned improving or declining
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