The Simmons Corporation's income statement is given below, SIMMONS CORPORATION Sales Cost of goods sold Gross profit Fixed charges (other than interest) $287,000 175,000 2 112,000 29,400 Income before interest and taxes Interest 82,600 20,100 Income before taxes Taxes 62,500 21,875 Income after taxes $40,625 a. What is the times interest earned ratio? (Round the final answer to 2 decimal places.) Times Interest earned X b. What would be the fixed charge coverage ratio? (Round the final answer to 2 decimal places.) X Fixed charge coverage