Selected financial data for Channel Co. is provided below:($ in millions) Sales$50,000 Interest expense 1,000 Tax expense 2,000 Net income 7,000 Total assets (beginning of year) 54,000 Total assets (end of year) 60,000 Total liabilities (end of year) 24,000 Total stockholders' equity (end of year) 36,000 What is the times interest earned ratio for Channel Co.?
A. 10.0 times.
B. 8.5 times.
C. 7.0 times.
D. 4.0 times.
Answer: A
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