Markus Company's common stock sold for $2.25 per share at the end of this year. The company paid preferred stock dividends totaling $4,600 and a common stock dividend of $0.41 per share this year. It also provided the following data excerpts from this year's financial statements Cash Accounts receivable Inventory Current assets Total assets Current liabilities Total liabilities Preferred stock Common stock, $1 par value Total stockholders' equity Total liabilities and stockholders' equity Sales (all on account) Cost of goods sold Gross margin This Year $550,000 $319,000 $ 231,000 Net operating income $ 93,500 Interest expense Net income $ 5,500 $ 69,400 Ending Balance $ Beginning Balance $ 29,000 $ 44,800 50,000 $ 43,800 $ 48,100 $ 50,000 $127,100 $ 138,600 $375,000 $360,000 $ 51,000 36,000 $ 100,000 90,000 $ 36,000 $ 36,000 $ 72,000 $ 72,000 $275,000 $ 270,000 $ 375,000 $ 360,000 Required: What is the times interest earned ratio? (Round your answer to 2 decimal places.) Tees interest named ratio 2.49