b. The operating profit margin is __?__%. (Round to one decimal place.) c. The times interest earned ratio is __?__X. (Round to one decimal place.)

Please solve step by step all the sections that need to be answered in the question.

(Evaluating profitability) Last year, Stevens Inc. had sales of $404,000, with a cost of goods sold of $114,000. The firm's operating expenses were $125,000, and its increase in retained earnings was $50,000. There are currently 21,600 common stock shares outstanding and the firm pays a $1.62 dividend per share. a. Assuming the firm's earnings are taxed at 21 percent, construct the firm's income statement. b. Compute the firm's operating profit margin. c. What was the times interest earned? a. Assuming the firm's earnings are taxed at 21 percent, construct the firm's income statement. (Round to the nearest dollar. NOTE: You may input expense accounts as negative values.) $ Stevens Inc. Income Statement Sales Cost of goods sold Gross profits Operating expenses Operating profits Interest expense Earnings before taxes Income taxes 404,000 114,000 290,000 125,000 $ $ 165,000 $ Net income $