The five-year financial projection for Aquatic Supplies beginning in 2022 appears below. Calculate the company's times-interest-earned ratio for each year from 2021 to 2026. Calculate the percentage EBIT can fall before interest coverage dips below 1.0 for each year from 2021 to 2026. Consulting Table 6.5 in the text, what bond rating would Aquatic Supplies have in 2021 if the rating was based solely on the firm's interest coverage ratio? Based on this rating, would a significant increase in financial leverage be a prudent strategy for Aquatic Supplies? BALANCE SHEET (\$ millions) ASSETS LIABILITIES EQUITY \begin{tabular}{|l|r|r|r|r|r|r|} \hline Common Stock & 1.702 & 1.702 & 1.702 & 1.702 & 1.702 & 1.702 \\ \hline Capital Surplus & 55.513 & 55.513 & 55.513 & 55.513 & 55.513 & 55.513 \\ \hline Retained Earnings & 118.729 & 138.4342 & 161.8507 & 189.5173 & 222.0441 & 260.1216 \\ \hline Less: Treasury Stock & 158.059 & 158.059 & 158.059 & 158.059 & 158.059 & 158.059 \\ \hline Total Equity & 17.885 & 37.59023 & 61.00667 & 88.67326 & 121.2001 & 159.2776 \\ \hline \end{tabular} TOTAL LIABILITIES \& EQUITY 268.843318.993355.0217395.3738440.5682491.1859