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E11-24 (similar to) The following financial information was obtained from the year ended 2018 income...

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E11-24 (similar to) The following financial information was obtained from the year ended 2018 income statements for Wilson Automotive and Steinbeck Automotive: E (Click the icon to view the financial information.) Requirements 1. Compute the times-interest-earned ratio for each company. Round to two decimals. 2. Which company was better able to cover its interest expense? Requirement 1. Compute the times-interest-earned ratio for each company. Round to two decimals. Begin by showing the formula for the times-interest-earned ratio. Times-interest-earned ratio %3D mpan expe Data Table for e Wilson Steinbeck ed rati 24 35,480 $ Net income 92,380 Income tax expense 13,940 30,180 Interest expense 350 3,200 Print Done

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