The following information is available for Best Appliance Inc.: 

The following information is available for Best Appliance Inc.:

The following information is available for Best Appliance Inc.:

Required Calculate the times interest earned ratio for 2014 and compare it to the industry average in Exhibit 18.11. Explain why it compares favorably or unfavourably.

The following information is available for Best Appliance Inc.:

1 There were 1 million $5, non-cumulative, preferred shares issued and outstanding; no new shares were issued during 2013 or 2014.
2 There were 25 million common shares issued and outstanding; no new shares were issued during 2013 or 2014.
3 There are no dividends in arrears. Dividends totaling $62 million were declared and paid during2014.

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