Times interest earned The following data were taken from recent annual reports of Caliber Company, which operates a low-

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Times Interest Earned The Following Data Were Taken From Recent Annual Reports Of Caliber Company Which Operates A Low 1 (42.01 KiB) Viewed 4 times

Times interest earned The following data were taken from recent annual reports of Caliber Company, which operates a low-fare airtine service to more than 50 cities in the United States: Current Year Preceding Year $72,000 259,200 Interest expense Income before income tax $79,000 142,200 a. Determine the times interest earned ratio for the current and preceding years. Round to one decimal place. Current year Preceding year b. Although Caliber Company had enough earnings to pay interest in the preceding year, the A in this ratio will be by the debtholders.