11-5A (Algo) Computing and analyzing times interest earned LO A1 Skip to question [The following...
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11-5A (Algo) Computing and analyzing times interest earned LO A1 Skip to question [The following information applies to the questions displayed below.] Shown here are condensed income statements for two different companies (assume no income taxes). Miller Company Sales $ 1,450,000 Variable expenses (80%) 1,160,000 Income before interest 290,000 Interest expense (fixed) 66,000 Net income $ 224,000 Weaver Company Sales $ 1,450,000 Variable expenses (60%) 870,000 Income before interest 580,000 Interest expense (fixed) 356,000 Net income $ 224,000
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