Chapter 3 Connect Homework i 5 The Lancaster Corporation's income statement is given below. 1.42 points LANCASTER CORPORATION Sales Cost of goods sold Gross profit Fixed charges (other than interest) Income before interest and taxes Interest Income before taxes eBook Taxes (35%) Income after taxes Hint $ 259,000 209,000 $ 50,000 24,500 $ 25,500 19,000 $ 6,500 2,275 $ 4,225 a. What is the times-interest-earned ratio? (Round your answer to 2 decimal places.) Times interest earned times b. What would be the fixed-charge-coverage ratio? (Round your answer to 2 decimal places.) Fixed charge coverage times Saved