Question: Please give me a step by step breakdown. Thanks! Problem 3-23 (Algo) Debt utilization ratios [LO3-2] The Lancaster Corporation's income statement is given below. a.

Please give me a step by step breakdown. Thanks!

Problem 3-23 (Algo) Debt utilization ratios [LO3-2] The Lancaster Corporation's income statement is given below. a. What is the times-interest-earned ratio? Note: Round your answer to 2 decimal places. (x) Answer is complete but not entirely correct. b. What would be the fixed-charge-coverage ratio? Note: Round your answer to 2 decimal places. ( Answer is complete but not entirely correct. Problem 3-23 (Algo) Debt utilization ratios [LO3-2] The Lancaster Corporation's income statement is given below. a. What is the times-interest-earned ratio? Note: Round your answer to 2 decimal places. (x) Answer is complete but not entirely correct. b. What would be the fixed-charge-coverage ratio? Note: Round your answer to 2 decimal places. ( Answer is complete but not entirely correct

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