Calculating the Times-Interest-Earned Ratio Beech Company provided the following income statement for last year: Sales Cost of goods sold Gross margin Operating expenses Operating income $24,350,735 15,300,000 $9,050,735 4,910,685 $4,140,050 Interest expense 484,015 Income before taxes $3,656,035 Income taxes 1,461,214 Net income $2,194,821 Required: Calculate the times-interest-earned ratio. Round the answer to one decimal place. times