Based on the information in the table, calculate the firm's Interest Coverage ratio (also called Times Interest Earned) Round the answers to two decimal places Balance Sheet December 31, 2010 Cash and marketable $102,000 Accounts payable $287,000 securities Accounts receivable $299,000 $61,200 Notes payable Accrued expenses $5 1,900 $628,000 Inventories Total current $400,100 Prepaid expenses $10,300 liabilities Total current $1,039,300 Long-term debt $415,000 assets Par value and Gross fixed assets $1,502,000 $376,000 paid-in-capital Less: accumulated $312,000 Retained Earnings $1,038,200 depreciation $1,190,000 Net fixed assets Common Equity 1,414,200 Total liabilities $2,229,300 and owner's equity $2,229,300 Total assets Income statement, Year of 2010 Net sales (all credit) $6,387,700.00 Less:Cost of goods $4,726,898.00 sold Selling and administrative $345,000.00 expenses Depreciation $148,000.00 expense $1,167,802.00 BIT $50,600.00 Interest expense Earnings before $1,117,202.00 taxes $446,880.80 Income taxes $670,321.20 Net income