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Determine the times interest earned ratio for current year

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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 cities in the United States:

 

Current Year

Preceding Year

Interest expense

$48,000

$52,000

Income before income tax

$302,400

$228,800

Required - Determine the times interest earned ratio for the current and preceding years.

Reference no: EM132558631

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