A company had the following income statement last year: Sales356,000 Cost of Goods Sold 115,000 Gross Profit 241,000 OperatingExpenses 87,000 Operating Income 154,000 Income Tax Expense 38,500Net Income 115,500 *Operating Expenses includes $11,000 of interestexpense. What is the times interest earned ration for the company?A. 4.0 times B. 14.0 times C. 15.0 times D. 11.5 times
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