The following financial information was obtained from the year ended 2024 income statements for Luigi Automotive and Bale Automotive: (Click the icon to view the financial information.) Requirements 1. Compute the times-interest-earned 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-earned ratio for each company, Round to two decimals. Begin by showing the formula for the times-interest-eared ratio. Times-interest-earned ratio - Data table Luigi Bale $ 43,900 Net income Income tax expense Interest expense 26,060 S 9.240 14,500 250 2,000 The following financial information was obtained from the year ended 2024 income statements for Luigi E: (Click the icon to view the financial information.) Requirements 1. Compute the times-interest-earned ratio for each company. Round to two decimals. 2. Which company was better able to cover its interest expense? HH Requirement 1. Compute the times-interest-earned 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 Bale Luigi 26,060 $ Net Income $ 43,900 Income tax expense 9.240 14,500 Interest expense 250 2,000