Salinas Limited

Income Statement

For the Year Ended December 31, 2012

Net Sales $240

Cost of Goods Sold 144

Gross Profit 96

Operating Expenses

$

Salaries

44

6 50

Depreciation

Income from Operations 46

8

Less: Interest

Income before Income Taxes 38

18

Less: Income Taxes

Net Income $

20

Calculate times earned Ratio

Group of answer choices

5.75 Times

6 Times

0.75 Times

8 Times