Using Cooper & Fowler Inc.'s financial statements (below), calculate times interest earned as of December 31, 2018. Cooper & Fowler Inc. Balance Sheet at Dec. 31, 2017 and Dec. 31, 2018 Cash Accounts Receivable (A/R) Inventory Current Assets Plant and Equipment Less Accumulated Depreciation Net Plant and Equipment Total Assets Liabilities and Owners' Equity Accounts Payable (A/P) Notes Payable Current Liabilities Bonds Owners' Equity Common Stock Retained Earnings Total Owners Equity Total Liabilities and Owners' Equity Sales Cost of Goods Sold Gross Profit Selling, General, and Administrative Expenses Depreciation Operating Income Interest Expense 2017 $200 $450 $550 Net Income Before Taxes Taxes (40%) Net Income O 5.63X $1,200 $2,200 ($1,000) $1,200 $2,400 $200 $0 $200 $600 Cooper & Fowler Inc. Income Statement for Years Ended Dec. 31, 2017 and Dec. 31, 2018 $900 $700 $1,600 $2,400 2017 $1,200 $700 $500 $30 $220 $250 $50 $200 $80 $120 2018 $150 $425 $625 $1,200 $2,600 ($1,200) $1,400 $2,600 $150 $150 $300 $600 $900 $800 $1,700 $2,600 2018 $1,450 $850 $600 $40 $200 $360 $64 $296 $118 $178

Using Cooper \& Fowler inc's financial statements (pelow), calculate times intevest eamed as of December 31, 2018