balance sheet

income statement

please help me solve the fixed coverage ratio and also help me determine if the Bank should accept the loan based on the relevant information.

Debt analysis Springfield Bank is evaluating Creek Enterprises, which has requested a $3,660,000 loan, to assess the firm's financial leverage and financial risk. On the basis of the debt ratios for Creek, along with the industry averages and Creek's recent financial statements, evaluate and recommend appropriate action on the loan request. Industry averages Creek Enterprises Income Statement: Debt ratio 0.47 Times interest earned ratio 7.15 Creek Enterprises Balance Sheet: Fixed-payment coverage ratio 1.95 Creek Enterprises's debt ratio is 0.70. (Round to two decimal places.) Creek Enterprises's times interest earned ratio is 2.94. (Round to two decimal places.) (Round to two decimal places.) Creek Enterprises's fixed-payment coverage ratio is 1 Creek Enterprises Income Statement for the Year Ended December 31, 2019 2 Sales revenue $30,004,000 3 Less: Cost of goods sold 4 Gross profits 5 Less: Operating expenses 6 Selling expense 7 General and administrative expenses 20971000 $9,033,000 $3,006,000 1753000 8 Lease expense 9 Depreciation expense 10 Total operating expense 11 Operating profits 12 Less: Interest expense 13 Net profits before taxes 207000 1029000 5995000 $3,038,000 1033000 $2,005,000 14 Less: Taxes (rate-21 % ) 15 Net profits after taxes 16 Less: Preferred stock dividends 421050 $1,583,950 100800 17 Earnings available for common stockholders $1,483,150 18 19