Using the following financial statements, calculate the Times Interest Earned Ratio for the 2020 fiscal year ended December 31 2020. Financial statements for United Parcel Services, Inc. O 0.2 times O 3.6 times O 1.9 times O 5.1 times UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In millions) December 31, 2020 2019 ASSETS 5 5,218 503 9,645 (93) 9.552 Current Asset Carb and cash equivalent Marketable securities Accounts receivable Less: Allowance for credit losses Accounts receivable, net Assets held for sale Other current Total Current Assets Property. Mani and Equipment, Nel Operating Lease Right-Of-Use Assets Goodwill Intangible Assets, Net Investments and Restricted Cash 5.9105 406 10,858 (138) 10.750 1.197 1,953 20,216 32.254 3,073 1.167 2,274 25 1.810 17.103 30.482 2,856 3813 2.167 24 Deferred Income Tax Assets 527 330 1,082 Other Non-Current Assets 672 Total Assets $ 62.408 $ 57,857 LIABILITIES AND SHAREOWNERS' EQUITY 5 3,420 2,623 5 360 538 6,455 3,555 2,552 3,569 1,085 914 927 793 347 1.641 15,413 1.450 17,016 22,031 2.540 15,817 21.818 Current Liabilities: Current maturities of long-term debt, commercial paper and finance cases Current maturities of operating leases Accounts payable Accrued wages and withholdings Self-insurance reserves Accrued group welfare and retirement plan contributions Liabilities to be disposed of Other current liabilities Total Current Liabilities Long-Term Debt and Finance Leases Non-Current Operating Lacs Pension and Poitretirement Benefit Obligations Deferred Income Tax Liabilities Other Non-Current Liabilities Shareowners' Equity Class A common stock (147 and 156 shares issued in 2020 and 2019) Class B common stock (718 and 701 shares issued in 2020 and 2019) Additional paid-in capital Retained earnings Accumulated other comprehensive loss Deferred compensation obligations Less: Treasury stock (0.4 shares in 2020 and 2019) Total Equity for Controlling Interests No controlling Interests Total Sharcowners' Equity Total Liabilities and Shareowners' Equity 2,391 10,601 1.632 2,719 488 3.847 2 2 7 7 365 150 6.896 (7.113) 20 9,105 (5,997) 26 (20) (26) 3,267 657 12 16 669 3.283 $ 62.408557.857 See notes to audited, consolidated financial statements UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES STATEMENTS OF CONSOLIDATED INCOME (In millions, except per share amounts) Years Ended December 31, 2020 2018 Revenue 2019 74,094 $ 84,628 5 71,861 38.908 Operating Expenses Compensation and benefits Repairs and maintenance Depreciation and amortization Purchased transportation Fuel 44,529 2,365 2,698 1,838 2,360 37.235 1,732 2,207 13.409 3,427 15,631 2,582 1,539 12,590 3.289 1,392 5,919 66,296 7,798 1,362 5,465 7,600 76,944 7,684 64,837 7,024 Other occupancy Other expenses Total Operating Expenses Operating Profit Other Income and (Expense) Investment income (expense) and other Interest expense Total Other Income and (Expense) Income Before Income Taxes Income Tax Expense Net Income Basic Earnings Per Share Diluted Earnings Per Share (5.139) (701) (5,840) 1,844 (1.493) (653) (2,146) 5,652 1,212 4.440s (400) (605) (1.005) 6,019 1.228 4,791 5.53 551 SO! $ s 1.3435 1.55$ 1.54 S 5.145 $ 5.11 STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME (LOSS) (In millions) Net Income Change in foreign curtetiey translation adjustment, net of tax Change in unrealized gain (los) on marketable securities, net of tax Change in unrealized gain (loss) on cash flow hedges, net of tax Change in unrecognized pension and postretirement benefit costs, net of tax Comprehensive Income (Loss) Years Ended December 31, 2020 2019 2013 $ 1.343 $ 4,440 S 4,791 97 48 (149) 2 6 (335) 72 485 (880) (1.129) 272 $ 227 $ 3.437 S 5399 See notes to audited, consolidated financial statements