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: $200,000) Common stock, December 31 Year 3 $427,000 114.000 55,240 9,450 383,000 195,000 Year 2 $258,000 77,000 63.900 7.500 237,000 175,000 The average number of shares outstanding was 7,800 for Year 3 and 7,000 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.) b. 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. $66 per share: Year 2. $74 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. (le, 0.2345 should be entered as 23.45).) e. Net margin (Round your percentage answers to 2 decimal places. (.e., 0.2345 should be entered as 23.45).) Year 3 times Year 2 times Times interest eamed b. Earnings per share c Price earnings ratio times time