Baird Companys income statement information follows:

	Year 3				Year 2
Net sales	$	415,000			$	260,000
Income before interest and taxes		117,000				83,000
Net income after taxes		55,080				63,800
Interest expense		8,700				7,900
Stockholders equity, December 31 (Year 1: $198,000)		303,000				240,000
Common stock, December 31		194,750				173,750

The average number of shares outstanding was 7,790 for Year 3 and 6,950 for Year 2.

Required Compute the following ratios for Baird for Year 3 and Year 2.

a. Number of times interest was earned. (Round your answers to 2 decimal places.) b. Earnings per share based on the average number of shares outstanding. (Round your answers to 2 decimal places.) c. Price-earnings ratio (market prices: Year 3, $68 per share; Year 2, $73 per share). (Do not round intermediate calculations. Round your answers to 2 decimal places.) d. Return on average equity. (Round your percentage answers to 2 decimal places (i.e., 0.2345 should be entered as 23.45).) e. Net margin. (Round your percentage answers to 2 decimal places (i.e., 0.2345 should be entered as 23.45).)