The balance sheet for Altoid Co. is shown below. ALTOID CO. Balance Sheet At December 31, 2018 Assets: Cash $ 230 600 700 850 1,180 $ 3,560 Short-term investments Accounts receivable (net) Inventories Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity: Current liabilities Long-term liabilities Paid-in capital Retained earnings Total liabilities and shareholders' equity $ 850 1,000 550 1,160 $ 3,560 Selected 2018 income statement information for Altoid Co. includes: Net Sales Operating expenses Income before interest and taxes Interest expense Income tax expense Net income $ 8,500 7,190 1,310 110 360 $ 840 Required: Compute the following financial statement ratios for 2018: Problem 3-106 Altoid Co.'s times interest earned ratio. (Round your answer to two decimal places.)