The following information comes from the balance sheets and income statements of Crosby Co.: As of or for the Year ended December 31 Current YearPrior YearCash$24,000 $20,000 Accounts receivable 38,000  44,000 Inventory 64,000  50,000 Property and equipment 224,000  218,000 Current liabilities 88,000  80,000 Long-term liabilities 106,000  100,000 Stockholders' equity 156,000  152,000 Net sales revenues 680,000  630,000 Cost of goods sold 440,000  420,000 Operating expenses 160,000  150,000 Interest expense 10,000  8,000 Income tax expense 18,000  16,000 What is the times interest earned ratio for the current year? 

A. 2.2
B. 5.2
C. 8.0
D. 6.2


Answer: C

Business

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