The following financial information was obtained from the year ended 2024 income statements for Mason Automotive and Clark Automotive: (Click the icon to view the financial information.) Requirements 1. Compute the times-interest-eared ratio for each company. Round to two decimals. 2. Which company was better able to cover its interest expense? Requirement 1. Compute the times-interest-eamed ratio for each company. Round to two decimals. Begin by showing the formula for the times-interest-earned ratio. Times-interest-earned ratio = Data table Net income Income tax expense Interest expense Mason Clark 69 $ 81,730 $ 84,620 20,610 34,110 700 3,100 Print Done - X