The following information from the accounting records of Jenning Company are available to you:
					Year 3	Year 2	Year 1
Net sales					$427,000	$254,000
Income before interest and taxes					$114,000	$80,000
Net income after taxes					$55,480	$63,000
Interest expense					$9,500	$7,600
Stockholders' equity, December 31					$295,000	$229,000	$196,000
Common stock, December 31					$197,500	$175,000
Average # of of shares outstanding					7,900	7,000
Market price per share, December 31					$67	$74
Required:	Compute the following for Fanning Company for both Years 3 and 2
a)	Number of times interest earned
b)	Earnings per share based on average number of shares outstanding
c)	Price-earnings ratio
d)	Return on average equity
e)	Net margin (i.e. Return on sales)