Question 3 9.5 pts Use the following information to answer this question. Thomas Company 2017 Income Statement ($ in millions) Net sales $ 9,530 Cost of goods sold 7,760 Depreciation 465 Earnings before interest and taxes $ 1,305 Interest paid 104 Taxable income $ 1,201 Taxes 420 Net income $ 781 Thomas Company 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 2016 230 $ 1,370 2017 $ 260 900 1,695 Cash Accounts rec. Inventory Total $ 1,385 1,300 1,000 1,810 Accounts payable Long-term debt Common stock Retained earnings 1,100 3,340 640 3,250 $ 3,040 $ 2,855 890 Net fixed assets 3,410 3,970 Total assets $ 6,450 $ 6,825 Total liab. & equity $ 6,450 $ 6,825 What is the times interest earned ratio for 2017? 9.88 times 12.55 times 13.85 times 11.55 times 10.27 times