Question
Times Interest Earned Sprout Company reported the following on the company's income statement in two recent years: Current Year Prior Year Interest expense $410,000 $451,000
Times Interest Earned
Sprout Company reported the following on the company's income statement in two recent years:
| Current Year | Prior Year | |||
| Interest expense | $410,000 | $451,000 | ||
| Income before income tax expense | 6,191,000 | 6,223,800 | ||
a. Determine the times interest earned ratio for the current year and the prior year. Round to one decimal place.
| Current Year | fill in the blank 1 |
| Prior Year | fill in the blank 2 |
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Financial Accounting
Authors: J. David Spiceland ,Wayne M. Thomas ,Don Herrmann
2nd Revised Edition
0071088385, 978-0071088381
