Question 8 0 / 6 points (Learning Outcome 4) Peartree Inc. provides the following income statement for the year 2015: 2015 Net Sales $240,000 Cost of Goods Sold 110,000 Gross Profit $130,000 Operating Expenses: Selling Expenses 45,000 Administrative Expenses 12,000 Total Expenses 57,000 Operating Income $73,000 Other Revenues and Expenses: Loss on Sale of Capital Assets 23,000 Interest Expense 1,000 Total Other Revenues and Expenses 24,000 Income Before Taxes Income Tax Expense Net Income $49,000 5,000 $44,000 Calculate the times-interest-earned ratio and show your calculations to receive full credit for this problem. a. 25 times b. 30 times c. 45 times d. 50 times