Macy's Department Store management is applying for a $50 million loan for expansion. You, the loan officer for a major commercial bank, is tasked with approving loans. You requested and was given the most recent income statement. presented below: a. Please calculate the Timed Interest Earned Ratio (EBIT / Interest Expense) for the 12-months ending Jan 28, 2023. Just a reminder that Operating Income is the same as Earnings Before Interest and Taxes (EBIT). Also, change the Interest expense to a positive and not a negative amount. Please show your calculations for full points. b. Based on your calculation in (a) would you approve the loan request? In more than 50 words please explain the criteria used to arrive at your decision