Data Table - X Junk Bale Net income $ 53,630 $ 53,370 Income tax expense 15,270 19,630 Interest expense 500 2,500 Print Done Homework: Chapter 9&11 homework Score: 0.25 of 1 pt 13 of 13 (10 complete) %E11-24 (similar to) The following financial information was obtained from the year ended 2018 income statements for Junk Automotive and Bale Automotive: Click the icon to view the financial information.) Requirements Compute the times-interest-eared ratio for each company. Round to two decimals. Which company was better able to cover its interest expense? 1. 2. Requirement 1. Compute the times-interest-earned ratio for each company. Round to two decimals. Begin by showing the formula for the times-interest-eamed ratio. Times-interest-eared ratio= (Net income + Income tax expense + Interest expense) / Interest expense Now calculate the times-interest-earned ratio for each company. (Round the ratios to two decimal places, X.XX.) Junk Bale Times-interest-earned ratio