Business, 05.08.2020 19:01 musiclyhollywoodbabo
The following financial information was obtained from the year ended 2016 income statements for Cash Automotive and Bale Automotive:
Cash Bale
Net income $37,085 68,930
Income tax expense 9,360 25,310
Interest expense 350 3,100
Requirements:
1. Compute the times-interest-earned ratio for each company.
2. Which company was better able to cover its interest expense?
Answers: 3
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The following financial information was obtained from the year ended 2016 income statements for Cash...
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