The Information Related to Outloud Music,Inc Calculate the Times-Interest-Earned Ratio for Each Year and Also State

Essay

The information related to Outloud Music,Inc.is given below:
$$\begin{array} { l l l } & \text { Year ended December } & \text { Year ended December } \\& 3 1 , 2 0 1 6 & 3 1 , 2 0 1 7 \\\hline \text { Net Income } & \$ 11,510 & \$ 210,570\\\text { Income Tax Expense } & 55,910 & 103,505\\\text { Interest Expense } &6,595 & 59,505 \\\end{array}$$ Calculate the times-interest-earned ratio for each year and also state the percentage change in the ratio.