chaper 11. E11-24

n 24 book / static E - ( ) The following financial information was obtained from the year ended 2018 income statements for Cash Automotive and Pennington Automotive EEB (Click the icon to view the financial information.) Requirements 1. Compute the times-interest-earned ratio for each company Round to two decimals 2. Which company was better able to cover its interest expense? Requirement 1. Compute the times-interest-earned ratio for each company. Round to two decimals Begin by showing the formula for the times-interest-earned ratio Times-interest-earned ratio(Net income + Income tax expense + Interest expense)/ Interest expense Now calculate the times-interest-earned ratio for each company (Round the ratios to two decimal places, X.XX) Cash Pennington Times-interest-earned ratio Enter any number in the eait fields and then click Check Answer Clear Ai Type rch n 24 book / static E - ( ) The following financial information was obtained from the year ended 2018 income statements for Cash Automotive and Pennington Automotive EEB (Click the icon to view the financial information.) Requirements 1. Compute the times-interest-earned ratio for each company Round to two decimals 2. Which company was better able to cover its interest expense? Requirement 1. Compute the times-interest-earned ratio for each company. Round to two decimals Begin by showing the formula for the times-interest-earned ratio Times-interest-earned ratio(Net income + Income tax expense + Interest expense)/ Interest expense Now calculate the times-interest-earned ratio for each company (Round the ratios to two decimal places, X.XX) Cash Pennington Times-interest-earned ratio Enter any number in the eait fields and then click Check Answer Clear Ai Type rch