Times interest earned

Averill Products Inc. reported the following on the company’s income statement in 20Y8 and 20Y9:
20Y9 20Y8
Interest expense $440,000 $400,000
Income before income tax expense 5,544,000 4,400,000

a. Determine the times interest earned ratio for 20Y8 and 20Y9. Round to one decimal place.
20Y9 20Y8
Times Interest Earned
fill in the blank 1

fill in the blank 2

b. Is the change in the times interest earned ratio favorable or unfavorable?

Question

02-08-2022
Mathematics

Answered

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Times interest earned

Averill Products Inc. reported the following on the company’s income statement in 20Y8 and 20Y9:
20Y9 20Y8
Interest expense $440,000 $400,000
Income before income tax expense 5,544,000 4,400,000

a. Determine the times interest earned ratio for 20Y8 and 20Y9. Round to one decimal place.
20Y9 20Y8
Times Interest Earned
fill in the blank 1

fill in the blank 2

b. Is the change in the times interest earned ratio favorable or unfavorable?

Sagot :

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