Question

The following information is available for Best Appliance Inc.:


Required Calculate the times interest earned ratio for 2014 and compare it to the industry average in Exhibit 18.11. Explain why it compares favorably or unfavourably.


1 There were 1 million $5, non-cumulative, preferred shares issued and outstanding; no new shares were issued during 2013 or 2014.
2 There were 25 million common shares issued and outstanding; no new shares were issued during 2013 or 2014.
3 There are no dividends in arrears. Dividends totaling $62 million were declared and paid during2014.


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  • CreatedJanuary 08, 2015
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