I know we’ve been talking so much about this question but after I read a textbook example i am confused again.

According to my understanding earlier, CFAI uses interest payment in the calculation of interest coverage ratio.

However, in the example (FSA textbook, P63 Example 3), it’s clearly using Interest Expense from Income statement to do the calculation, which makes me confused again!! Could anyone please read this example and explain to me?

Thank you!