Jones Petro Company reports the following consolidated statement of income:

Operating revenues ....................$2,989

Costs and expenses:

Cost of rentals and royalties ................ 543

Cost of sales ................................ 314

Selling, service, administrative, and general expense ..... 1,424

Total costs and expenses ................. 2,281

Operating income ......................... 708

Other income ................................ 27

Other deductions (interest) ................. 60

Income before income taxes ............... 675

Income taxes ................................ 309

Income before outside shareholders’ interests ......... 366

Outside shareholders’ interests ............... 66

Net income .................................... $ 300

Depreciation expense totals $200; operating lease payments total $150; and preferred dividends total $50. Assume that one-third of operating lease payments is for interest.

Required

a. Compute the times interest earned.

b. Compute the fixed charge coverage.