Year Problem 14-04 You are considering purchasing the preferred stock of a firm but are concerned about its capacity to pay the dividend. To help allay that fear, you compute the times preferred-dividend-earned ratio for the past three years from the following data taken from the firm's financial statements: 20x1 20x2 20x3 Operating Income $17,000,000 $12,000,000 $19,000,000 Interest 6,800,000 3,000,000 7,200,000 Taxes 4,300,000 4,400,000 4,000,000 Preferred dividends 1,500,000 1,000,000 1,300,000 Common dividends 2,300,000 2,000,000 Round your answers to two decimal places. 20X1: 20X2: 20X3 What does your analysis indicate about the firm's capacity to pay preferred stock dividends? Times preferred dividend eamed has Select teach year, which indicates the firm's capacity to pay the dividend has select