The following financial information was obtained from the year ended 2018 income statements for Kringle Automotive and Newman 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-earned ratio. Times-interest-earned ratio - X Data Table Now calculate the times-interest-earned ratio for each company. (Round the ratios to two decimal places, X.XX.) Kringle Newman Times-interest-earned ratio = Net income $ Requirement 2. Which company was better able to cover its interest expense? Kringle Newman 58,410 $ 88,490 20,730 28,950 600 3,200 Automotive was better able to cover its interest expense. Income tax expense Interest expense Print Done