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Times Interest earned Averill Products Inc. reported the following on the company's income statement in 2048 and 2019: 2019 2048 Interest expense $480,000 $450,000 Income

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Times Interest earned Averill Products Inc. reported the following on the company's income statement in 2048 and 2019: 2019 2048 Interest expense $480,000 $450,000 Income before income tax expense 6,336,000 5,085,000 a. Determine the times interest earned ratio for 2048 and 2049. Round to one decimal place. 2019 2018 Times Interest Earned 12.0 x 10.2 x b. Is the change in the times interest earned ratio favorable or unfavorable? Favorable

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