Q2. Following is the Income Statement of Carlsberg corporation. Sales $9,000,000 Cost of Goods Sold 2,000,000 Gross Profit 7,000,000 Selling and Administrative Expenses 500,000 Depreciation Expense 2,000,000 Earning Before Interest and Taxes(EBIT) 4,500,000 Interest Expense 1,220,000 Operating Profit (Earning Before Taxes) 3,280,000 Taxes(40%) 140,000 Net Income 3,140,000 From the above income statement calculate 1. Gross Profit Margin. 2. Operating Profit Margin. 3. Interest coverage ratio also known as Times Interest Earned