Using the income statement for Times Mirror and Glass Co., compute Fixed Charge Coverage ratio: \begin{tabular}{|c|c|c|c|} \hline \begin{tabular}{l} TIMES MIR \\ Inc \\ For the Yea \end{tabular} & \begin{tabular}{l} ROR AND GLASS CO. \\ me Statement \\ Ended December 31 , \\ 2017 \end{tabular} & & \\ \hline Sales & & \multicolumn{2}{|c|}{$223,000} \\ \hline Cost of goods sold & & \multicolumn{2}{|r|}{130,000} \\ \hline Gross profit & & \multirow{2}{*}{\multicolumn{2}{|c|}{\begin{tabular}{r} $93,000 \\ 44,000 \end{tabular}}} \\ \hline Selling and administrative expense & & & \\ \hline Lease expense & & \multicolumn{2}{|r|}{19.100} \\ \hline Operating profit & & \multicolumn{2}{|c|}{$29,900} \\ \hline Interest expense & & \multicolumn{2}{|r|}{10.600} \\ \hline Earnings before taxes & & \multicolumn{2}{|c|}{$19,300} \\ \hline Taxes (30%) & & \multicolumn{2}{|r|}{7.720} \\ \hline Earnings after taxes & & & 11.580 \\ \hline \end{tabular} "Equals income before interest and taxes