(Evaluating profitability) Last year, Stevens Inc. had sales of $396,000, with a cost of goods sold of 115,000.

The firm's operating expenses were $126,000, and its increase in retained earnings was $50,000.

There are currently 21,000 common stock shares outstanding and the firm pays a$1.56 dividend per share.

a. Assuming the firm's earnings are taxed at 34 percent, construct the firm's income statement.

b. Compute the firm's operating profit margin.

c. What was the times interest earned?

a. Assuming the firm's earnings are taxed at 34 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
Net sales	$
cost of goods sold
Gross profits	$
Operating Expenses
Operating income (EBIT)	$
Interest Expense
Earnings before taxes	$
Income Taxes
Net income	$

The operating profit margin is ______%

The times interest earned ratio is____X