Assume a company's Income Statement for Year 12 is as follows: Year 12 (in 000s) Income Statement Data Net Revenues from Footwear Sales Cost of Pairs Sold Warehouse Expenses Marketing Expenses Administrative Expenses Operating Profit (Loss) Interest Income (Expense) Pre-tax Profit (Loss) Income Taxes Net Profit (Loss) $ 600,000 370,000 55,000 100,000 15,000 60,000 (12,000) 48,000 14,400 $ 33,600 Based on the above income statement data and the formula for calculating the interest coverage ratio described in the Help section for p. 5 of the Footwear Industry Report, the company's interest coverage ratio is 2.80. 50.0. 3.00. 4.00. 5.00