Question
Times interest earned The following data were taken from recent annual reports of Caliber Company, which operates a low-fare airline service to more than 50
Times interest earned
The following data were taken from recent annual reports of Caliber Company, which operates a low-fare airline service to more than 50 cities in the United States:
Current YearPreceding YearInterest expense$76,000$83,000Income before income tax319,200199,200
a.Determine the times interest earned ratio for the a. Current and b. Preceding years. Round to one decimal place.
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Core Concepts Of Accounting Information Systems
Authors: Nancy A. Bagranoff, Mark G. Simkin, Carolyn Strand Norman
11th Edition
9780470507025, 0470507020
