Compute the interest coverage ratios for 2010 and 2011 from the partial income statements of Chimney Corporation
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Compute the interest coverage ratios for 2010 and 2011 from the partial income statements of Chimney Corporation the appear below. State whether the ration improved or worsened overtime.
CorporationA Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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2011 2010 Income from operations Interest expense Income before income taxes Income tareS Net income $23,890 5,800 18,090 5,400 $12,690 $18,460 3,300 $15,160 4,500 $10,660
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The interest coverage ratio declined from 2010 to 2011 from 56 to 41 ...View the full answer
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