balance sheet and income statement data indicate the following: line item descriptionamount bonds payable, 6% (due in 25 years)$1,400,000 preferred 8% stock, $100 par (no change during the year)200,000 common stock, $50 par(no change during the year)1,000,000 income before income tax for year330,000 income tax for year82,500 common dividends paid50,000 preferred dividends paid16,000 based on these data, what is the times interest earned ratio (rounded to two decimal places)? a.2.93