Question: Practical Exercise # 2 Use the information below to calculate the Time Interest Earned. Question 1 Net Income $80,000; Interest Expense = $20,000; Income

Practical Exercise # 2 Use the information below to calculate the Time

Practical Exercise # 2 Use the information below to calculate the Time Interest Earned. Question 1 Net Income $80,000; Interest Expense = $20,000; Income Tax = $ 15,000. What is the time interest earned? Interpret your findings. Question 2 Income from Operations = $50,000; Income Tax = $20,000; Interest Expense = $10,000. What is the time interest earned? Interpret your findings. Question 3 Net Income $150,000; Interest Expense = $25,000; Income Tax = $ 10,000. What is the time interest earned? Interpret your findings. Question 4 Income from Operations = $60,000; Income Tax = $80,000; Interest Expense = $20,000. What is the time interest eamed? Interpret your findings.

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