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 Operating income Interest 20x120x2 $ 18,000,000 $18,000,000 7,000,000 7,300,000 4,900,000 4,800,000 800,000 1,400,000 2,200,000 3,100,000 20X3 $17,000,000 6,800,000 6,000,000 1,500,000 Taxes Preferred dividends Common dividends 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- 9