Use the financial statements below to calculate the firm's times interest earned Balance Sheet (Millions of $) Assets Cash and securities Accounts receivable Inventories Total current assets Net plant and equipment Total assets Liabilities and Equity Accounts payable Notes payable Accruals Total current liabilities Long-term bonds Total debt Common stock Retained earnings Total common equity Total liabilities and equity 2010 $1,554.0 9,660.0 13,440.0 $24,654.0 17346.0 $42,000.0 $7,980.0 5,880.0 4,620.0 $18,480.0 10,920.0 $29,400.0 3,360.0 9,240.0 $12,600.0 $42,000.0 Income Statement (Millions of $) Net sales Operating costs except depr'n Depreciation Earnings bef int and taxes (EBIT) Less interest Earnings before taxes (EBT) Taxes Net income Other data Shares outstanding (millions) Common dividends Int rate on notes payable & L-T bonds Federal plus state income tax rate Year-end stock price 2010 $58,800.0 $54,978.0 $ 1,029.0 $2,793.0 1,050.0 $1,743.0 $ 610.1 $1,133.0 175.00 509.83 6.25% 35% 77.69 Select one O A. 2.66 O B. 1.94 C. 2.15 O D. 2.39 O E. 2.93