Evaluating profitability$)$ Last$$ year, Stevens Inc. had sales of $$$$395$ comma $000,$ with a cost of goods sold of $$$$120$ comma $000.$ The$$ firm's operating expenses were $ $129$ comma $000,$ and its increase in retained earnings was $$$$60$ comma $000.$ There are currently $21$ comma $500$ common stock shares outstanding and the firm pays a $$$$1\mathrm{.}65$ dividend per share.

a$.$ Assuming the$$ firm's earnings are taxed at $21$percent$,$ construct the$$ firm's income statement.

b$.$ Compute the$$ firm's operating profit margin.

c$.$ What was the times interest$$ earned?

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Part $1$

a$.$ Assuming the$$ firm's earnings are taxed at $21$percent$,$ construct the$$ firm's income statement.$($Round to the nearest dollar. NOTE$$: You may input expense accounts as negative$$ values.$)$

Stevens Inc. Income Statement

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Gross profits

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Operating profits

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Earnings before taxes

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Net income

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