Using the income statement for Times Mirror and Glass Co. below, compute the following ratios: aThe interest coverage. b. The fxed charge coverage. The total assets for this company equal $80,000. Set up the equation for the Du Pont system of ratio analysis, and compute c, d, and e. c. Profit margin d. Total asset turnover e. Retum on assets (investment) TIMES MIRROR AND GLASS CO. Income Statement Sales $126,000 93,000 $33,000 11,000 4,000 $18,000 3,000 $15,000 4,500 $10,500 Less: Cost of goods sold Gross profit Less: Selling and administrative expense Operating profit Eamings before taxes Earnings after taxes Less: Lease expense Less: Interest expense Less: Taxes (40%) Equals income before merest and txes. Solution Problem 3-24 Instructions Enter tormulas to calculate the tollowing ratios. If possible, use cell reterences to the income statement. a. Times interest earned b. Foxed charge coverage c-e. Return on assets 18,000V3,000-6 times 33,000v18,000- times Profit Marg n FORMULA Total assets tumover