Chec The income statement for the Sports Car Tire Company is given below. THE SPORTS CAR TIRE COMPANY Sales Less: Cost of goods sold $20,000 9,000 Gross profit Less: Selling and administrative expense Less: Lease expense 11,000 4,000 1,000 Operating profit Less: Interest expense 6,000 500 Earnings before taxes Less: Taxes (40%) 5,500 2,200 Earnings after taxes $3,300 *Equals income before interest and taxes The total assets for this company equal $40,000. Set up the formula for the DuPont system of ratio analysis, and compute c, d, and e Compute the following ratios: (Round the final answers to 2 decimal places.) a. The interest coverage b. The fixed charge coverage X 1 rk Saved Gross profit Less: Selling and administrative expense Less: Lease expense 11,000 4,000 1,000 Operating profit Less: Interest expense Earnings before taxes Less: Taxes (40%) 6,000 500 5,500 2,200 Earnings after taxes $3,300 *Equals income before interest and taxes The total assets for this company equal $40,000. Set up the formula for the DuPont system of ratio analysis, and cor Compute the following ratios: (Round the final answers to 2 decimal places.) X a. The interest coverage b. The fixed charge coverage c. Profit margin d. Total asset turnover e. Return on assets (investment) % %