Question 34 Not yet answered Marked out of 1.00 P Flag question Given the following financial statements for Awad Corporation, compute the firm's times interest earned (TIE). Balance Sheet 12/31/2010 $50,000 12/31/2009 $45,000 Current Assets 650,000 Gross Fixed Assets 880,000 Less Accumulated Depreciation 450,000 350,000 Income Statement Year Ended 12/31/10 Sales $1,300,000 Cost of Goods Sold 750,000 Operating Expenses 200,000 Depreciation Expense 100,000 EBIT 250,000 Interest Expense 50,000 EBT 200,000 Taxes 80,000 Net Income $120,000 Fixed Assets Total Assets 430,000 $480,000 350,000 $395,000 Current Liabilities $35,000 Long-term Debt 330,000 Common Stock 5,000 Retained Earnings 110,000 Total Liabilities & Equity $480,000 $50,000 270,000 5,000 70,000 $395,000 Select one: O a. 5%. ob. 5 days. c. 5.ox. o d. All of the Choices