Times interest earned in 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 United States Current Year Preceding Year Interest expense $71,000 $77,000 Income before income tax 553,800 485,100 a. Determine the times interest earned ratio for the current and preceding years. Round to one decimal place Current year Preceding year in this ratio will be b. Although Caliber Company had enough earnings to pay interest in the preceding year, the by the debtholders