The following data were taken from recent annual reports of TELUS Corporation, a leading national telecommunications company

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The following data were taken from recent annual reports of TELUS Corporation, a leading national telecommunications company in Canada.

Preceding Year (in millions of dollars) Current Year of dollars) (in millions Interest expense Income before income taxe

a. Determine the times interest earned ratio for the current and preceding years. Round to one decimal place.
b. Is the times interest earned improving or declining?

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Accounting Volume 2

ISBN: 978-0176509743

2nd Canadian edition

Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren

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Question Posted: Dec 15, 2017 08:24 AM

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The following data were taken from recent annual reports of TELUS Corporation, a leading national telecommunications company

Question:

Preceding Year (in millions of dollars) Current Year of dollars) (in millions Interest expense Income before income taxes $ 515 1.366 $ 582 1.205

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a Current year Number of times interest charges earned 3...View the full answer

Accounting Volume 2

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