Intro Use the following information to answer the questions: Assets Cash 12,000 Marketable securities Accounts receivable Inventory Current assets Machines 2,000 7,000 41,000 62,000 34,000 80,000 114,000 176,000 Liabilities and Equity Accounts payable 17,000 Notes payable 6,000 Current liabilities 23,000 Long-term debt 95,000 Total liabilities 118,000 Paid-in capital 20,000 Retained earnings 38,000 Equity 58,000 Total liab. & equity 176,000 Real estate Net fixed assets Total assets Line item Value Sales 85,000 - Costs 69,700 Depreciation 2,000 = EBIT 13,300 - Interest 800 = Taxable income 12,500 - Taxes 4,125 = Net income 8,375 | Attempt 1/3 for 10 pts. Part 1 What is the times-interest-earned ratio