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urse assessment_ids_150520.1 - on c &course-id"-29759OJ&contentjd-54321003&qu- These are the financial statements of Zach Industries for the year ending Decemb ber 31,2012. Use the following information to calculate the times Interest earned e Zach Industries Income Statement for the Year Ended December, 31, 2012 Sales revenue Less: Cost of goods sold Gross profits Less: Operating expenses Selling expense General and administrative expenses Lease expense Depreciation expense Total operating expense Operating profits Less: Interest expense Net profits before taxes Taxes Net profits after taxes Zach Industries Balance Sheet December 31, 2012 Assets Cash Marketable securities Accounts receivable $160,000 $106,000 $1.000 54,000 16,000T Total current assets Land $10,000 $1,000 $10,000 $37,000 $17000 $6,100 $10,900 $26.000 $90,000 Buildings and equipment Accumalated depreciation Net fxed assets Total assets Liablilities and Stockholders' Equity Accounts payable $78,000 $150,000 $22,000 $47,000 $69,000 $22.950 $31,500 S4,360Notes payable $6.540Total current liabilities 56,540Long-term Common stock* Retained earnings Total liabilities and stockholders' equity $150.000 The firm's 3000 outstanding shares of common stock closed 2812 at a price of $25 per share 2.7 3.0 2.9 2.8 A. C