Question 16 1 pts Use the following information to calculate this firm's times interest expense (TIE) ratio as of the end of 2016: Income Statement For the Year 2016 Net Sales 631,000 COGS 442,220 Depreciation Expense 28,100 EBIT 160,700 Interest Expense 14,900 $ 145,800 EBT Tax Expense 49,600 Net Income 96,200 Balance Sheet Beginning of 2016 End of 2016 38,200. $ 43,700 91,400 $ 86,150 Cash Accounts Receivable Inventory $203,900 214,600 $516,100 537,950 Net Fixed Assets Total Assets 849,600 882,400 Accounts Payable Long-term Debt $136,100 $104,300 $329,500 298,200 Common Stock 75,000 $ 82,000 Accumulated Retained Earnings S Total Liabilities and Equity 309,000 397,900 849,600$882,400 Note: Report your answer as a number rounded to two decimals places 10.79