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 Year 2 $429,000 $269,000 118,000 82,000 55,240 63,400 8,650 7,950 310,000 236,000 192,500 172,500 The average number of shares outstanding was 7,700 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.) 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. (ie, 0.2345 should be entered as 23.45).) e. Net margin. (Round your percentage answers to 2 decimal places. (i.e., 0.2345 should be entered as 23.45).) Year 3 times Year 2 times a. Times interest earned b. Earnings per share Price-earnings ratio d. Return on average equity e. Net margin times % % times % %