15 Using the income statement for Times Mirror and Glass Co., compute the following ratios: 25 pints TIMES MIRROR AND GLASS COMPANY Sales Cost of goods sold Gross profit Selling and administrative expense Lease expense Operating profit* Interest expense Earnings before taxes Taxes (308) Earnings after taxes *Equals income before interest and taxes. $293,000 154,000 $139,000 49,700 19,900 $ 69,400 7,300 $ 62,100 24,840 $ 37,260 eBook Hint Print a. Compute the interest coverage ratio. (Round your answer to 2 decimal places.) Interest coverage times b. Compute the fixed charge coverage ratio. (Round your answer to 2 decimal places.)