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21-02-2024
Business

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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.

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