the financial statements of flathead lake manufacturing company are shown below. income statement 2020 sales $ 9,300,000 cost of goods sold 5,750,000 depreciation expense 550,000 gross profit $ 3,000,000 selling and administrative expenses 2,200,000 ebit $ 800,000 interest expense 200,000 income before tax $ 600,000 taxes 375,000 net income $ 225,000 flathead lake manufacturing comparative balance sheets 2020 2019 cash $ 50,000 $ 40,000 accounts receivable 570,000 600,000 inventory 530,000 460,000 total current assets $ 1,150,000 $ 1,100,000 fixed assets 2,050,000 1,400,000 total assets $ 3,200,000 $ 2,500,000 accounts payable $ 320,000 $ 300,000 bank loans 480,000 400,000 total current liabilities $ 800,000 $ 700,000 long-term bonds 1,500,000 1,000,000 total liabilities $ 2,300,000 $ 1,700,000 common stock (200,000 shares) 200,000 200,000 retainded earnings 700,000 600,000 total equity $ 900,000 $ 800,000 total liabilities and equity $ 3,200,000 $ 2,500,000 note: the common shares are trading in the stock market for $15 per share. refer to the financial statements of flathead lake manufacturing company. the firm's compound leverage ratio is . (please keep in mind that when a ratio involves both income statement and balance sheet numbers, the balance sheet numbers for the beginning and end of the year must be averaged.) A) 3.56 B) 3.26 C) 3.14 D)3.02