Problem 14-04 You are considering purchasing the preferred stock of a firm but are concerned about its capacity to pay the dividend. To help allay that fear, you compute the times-preferred-dividend-earned ratio for the past three years from the following data taken from the firm's financial statements: Year 20x1 20x2 20x3 Operating income $17,000,000 $18,000,000 $16,000,000 Interest 8.000.000 8,300,000 9,400,000 Taxes 4,600,000 4,600,000 4,400,000 Preferred dividends 600,000 1,100,000 1,100,000 Common dividends 2,000,000 1,800,000 Round your answers to two decimal places. 20X1: 20x2: 20x3: What does your analysis indicate about the firm's capacity to pay preferred stock dividends? Times preferred dividend earned has -Select V each year, which indicates the firm's capacity to pay the dividend has -Select- Problem 14-04 You are considering purchasing the preferred stock of a firm but are concerned about its capacity to pay the dividend. To help allay that fear, you compute the times-preferred-dividend-earned ratio for the past three years from the following data taken from the firm's financial statements: Year 20x1 20x2 20x3 Operating income $17,000,000 $18,000,000 $16,000,000 Interest 8.000.000 8,300,000 9,400,000 Taxes 4,600,000 4,600,000 4,400,000 Preferred dividends 600,000 1,100,000 1,100,000 Common dividends 2,000,000 1,800,000 Round your answers to two decimal places. 20X1: 20x2: 20x3: What does your analysis indicate about the firm's capacity to pay preferred stock dividends? Times preferred dividend earned has -Select V each year, which indicates the firm's capacity to pay the dividend has -Select