11.Calculating the Times-Interest-Earned Ratio Mauka, Inc. provided the following income statement for last year: Sales $24,350,735 Cost of goods sold 15,300,000 Gross margin $9,050,735 Operating expenses 4,910,685 Operating income $4,140,050 Interest expense 475,015 Income before taxes $3,665,035 Income taxes 1,461,214 Net income $2,203,821 Required: Calculate the times-interest-earned ratio. Round the answer to one decimal place. times