The financial statements of Burnaby Mountain Trading Company are shown below. Income Statement 2017 Sales $7,000,000 Cost of Goods Sold 5,000,000 Gross Profit $2,000,000 Selling and Administrative Expenses 1,700,000 EBIT $ 300,000 Interest Expense 50,000 Income before Tax $ 250,000 Taxes 100,000 Net Income $ 150,000 Burnaby Mountain Trading Company Comparative Balance Sheets 2017 2016 Cash $ 90,000 $ 80,000 Accounts Receivable 810,000 800,000 Inventory 800,000 720,000 Total Current Assets $1,700,000 $1,600,000 Fixed Assets 2,600,000 2,400,000 Total Assets $4,300,000 $4,000,000 Accounts Payable $ 500,000 $ 400,000 Bank Loans 100,000 100,000 Total Current Liabilities $ 600,000 $ 500,000 Long-term Bonds 400,000 300,000 Total Liabilities $1,000,000 $ 800,000 Common Stock (200,000 500,000 500,000 shares) Retainded Earnings 2,800,000 2,700,000 Total Equity $3,300,000 $3,200,000 Note: The common shares are trading in the stock market for $27 each. Refer to the financial statements of Burnaby Mountain Trading Company. The firm's times-interest-earned ratio for 2017 is Multiple Choice O 2.8 11.11