Balance Sheet December 31, 2021 Assets Equities Cash $ 302000 Accounts payable $ 640000 1951000 Income taxes payable 192000 Accounts receivable (net) Inventories 2444000 228000 Miscellaneous accrued payables Plant and equipment, 1900000 Bonds payable (8%, due 2023) net of depreciation 1985000 Preferred stock ($100 par, 6% Patents 259000 750000 cumulative nonparticipating) Other intangible assets 75500 Common stock (no par, 60,000 Total Assets $7016500 shares authorized, issued and outstanding) 1129000 Retained earnings 2400500 Treasury stock-1500 shares of preferred (223000) Total Equities $7016500 Marigold Corp. Income Statement Year Ended December 31, 2021 Cost of goods sold 6300000 Gross profit 3100000 Operating expenses (including bond interest expense) 1600000 Income before income taxes 1500000 Income tax 450000 Net income 1050000 Additional information: There are no preferred dividends in arrears, the balances in the Accounts Receivable and Inventory accounts are unchanged from January 1, 2021, and there were no changes in the Bonds Payable, Preferred Stock, or Common Stock accounts during 2021. Assum that preferred dividends for the current year have not been declared. The number of times interest was earned during 2021 was January 1, 2021, and there were no changes in the Bonds Payable, Pre that preferred dividends for the current year have not been declared. The number of times interest was earned during 2021 was O 1652 = 152. O 1500 = 152. O 1050 - 152. O 1352 = 152