Solved: Harris industries reported the following on the companys, Accounting Basics

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Harris industries reported the following on the companys

Question - Harris Industries reported the following on the company's income statement in 20Y7 and 20Y6:

20Y7 20Y6

Interest expense $200,000 $180,000

Income before income tax expense 1,000,000 720,000

a. Determine the times interest earned ratio for 20Y7 and 20Y6?

b. Is times earned ratio improving or declining?

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Accounting Basics: Harris industries reported the following on the companys

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Accounting Basics: Harris industries reported the following on the companys

Reference No:- TGS02436286

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