Fanning Company's income statement information follows: Net Sales Income before interest and taxes Net Income after taxes Interest expense Stockholders' equity, December 31 (Year 1: $198.000) Common stock, December 31 Year 3 $421,000 116,000 55,960 8,600 312, eee 195,000 Year 2 $255, eee 80,000 63,900 7,850 231,000 172,500 The average number of shares outstanding was 7.800 for Year 3 and 6,900 for Year 2. Required Compute the following ratios for Fanning for Year 3 and Year 2 a. Number of times interest was earned (Round your answers to 2 decimal places.) Earnings per share based on the average number of shares outstanding (Round your answers to 2 decimal places.) c. Price earnings ratio (market prices: Year 3, $67 per share: Yoar 2, $78 per share) (Round your intermediate and final answers to 2 decimal places.) d. Return on average equity (Round your percentage answers to 2 decimal places. (.e., 0.2345 should be entered as 23.45).) e. Net margin (Round your percentage answers to 2 decimal places. (l.e., 0.2345 should be entered as 23.45).) Year 3 times Year 2 timos a Times interest eamed b. Earnings per share Price-camnings ratio d. Return on average equity e. Net margin times times % %% % %