3. Information from a manufacturing company's current year income statement follows. Calculate the company's (a) profit margin ratio, (b) gross margin ratio, and (c) times interest earned. Sales $850,000 Cost of goods sold 455.000 Gross profit $395,000 Operating expenses 260,000 Operating income S 135.000 Interest expense 32.000 Income before taxes $103.000 Income taxes expense 12,400 Net income s 90,600 4. The current year-end balance sheet data for a company are shown below. Calculate the company's: (a) working capital Assets: Cash S 38,000 Marketable securities 45,000 Accounts receivable (net) 127,500 Merchandise inventory 149,500 Long-term investments 135,000 Plant assets (net) 517,500 Total assets $ 1,012,500 Liabilities and equity: Accounts payable $ 148,700 Accrued liabilities 90,000 Notes payable (secured by plant assets) 254,800 Common stock ($12 par) 180,000 Contributed capital in excess of par 135,000 Retained earnings 204,000 Total liabilities and equity $1,012,500