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 Cost of goods sold Gross profit Operating expenses Operating income Interest expense Income before taxes Income taxes expense Net income $ 850,000 455,000 $ 395,000 260,000 $ 135,000 32,000 $ 103,000 12,400 $ 90,600