7. Please calculate the "times interest earned" and "total asset turnover (TATO) ratios, based on the following facts: Net Income $550,000; Interest Expense $75,000; and Tax Expense $133,000; Gross Sales $900,000; Ending Total Assets $350,000; Sales Returns Allowances/Sales Discounts $50,000; and Beginning Total Assets $590,000 Extra Credit: Please complete the table below. Asset Tax Life in Years Race Horse Tax Method Tax Convention Business Auto Business Laptop Computer Office Desk Residential Rental House Commercial Office Building