Determine the number of times interest charges were earned for 2011 and 2012. Round to one decimal…Determine the number of times interest charges were earned for 2011 and 2012. Round to one decimal…

PE 14-8B Number of times interest charges are earned

Marsh Products, Inc., reported the following on the company’s income statement in 2012 and 2011:

2012

2011

Interest expense

$ 420,000

$ 375,000

Income before income tax expense

4,200,000

3,000,000

a. Determine the number of times interest charges were earned for 2011 and 2012. Round to one decimal place.

b. Is the number of times interest charges are earned improving or declining?

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