Business, 28.08.2020 19:01 lace64

The following financial information was obtained from the year ended 2018 income statements for Cash Automotive and Pennington Automotive:. Cash Pennington
Net income $26,070 $74,188
Income tax expense 9,270 27,080
Interest expense 300 2,900
Requirements:
1. Compute the times-interest-earned ratio for each company Round to two decimals.
2. Which company was better able to cover its interest expense?

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The following financial information was obtained from the year ended 2018 income statements for Cash...

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