Required informationProblem 11-5A (Algo) Computing and analyzing times interest earned LO A1Skip to question

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Shown here are condensed income statements for two different companies (assume no income taxes).

Miller Company
Sales	$ 1,200,000
Variable expenses (80%)	960,000
Income before interest	240,000
Interest expense (fixed)	58,000
Net income	$ 182,000

Weaver Company
Sales	$ 1,200,000
Variable expenses (60%)	720,000
Income before interest	480,000
Interest expense (fixed)	298,000
Net income	$ 182,000

Problem 11-5A (Algo) Part 1Required:

1. Compute times interest earned for Miller Company and for Weaver Company.