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 Interest Taxes Preferred dividends Common dividends $17,000,000 $18,000,000 $19,000,000 6,600,000 10,700,000 8,100,000 5,500,000 3,800,000 5,100,000 1,200,000 800,000 900,000 2,700,000 2,200,000 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 each year, which indicates the firm's capacity to pay the dividend has -Select- pay the dividend has: Times preferred dividend earned has : diminished / improved declined / increased