Using the income statement for Times Mirror and Glass Co., compute the following ratios: TIMES MIRROR AND GLASS COMPANY Sales Cost of goods sold Gross profit Selling and administrative expense Lease expense Operating profit* Interest expense Earnings before taxes Taxes (30%) Earnings after taxes *Equals income before interest and taxes. $293,000 154,000 $139,000 49,700 19,900 $ 69,400 7,300 $ 62,100 24,840 $ 37,260 a. Compute the interest coverage ratio. (Round your answer to 2 decimal places.) Interest coverage 9.50 times Earnings after taxes $ 37,260 *Equals income before interest and taxes. a. Compute the interest coverage ratio. (Round your answer to 2 decimal places.) Interest coverage 9.51 times b. Compute the fixed charge coverage ratio. (Round your answer to 2 decimal places.) Fixed charge coverage + times