Peartree Ltd Provides the Following Income Statement for the Year

Peartree Ltd provides the following income statement for the year 2016: $\begin{array}{|l|r|} \hline& 2016 \\\hline \text { Net sales } & \$ 240000 \\\hline \text { Cost of sale } & 110000 \\\hline \text { Gross profit } & \$ 130000 \\\hline \text { Operating expenses: } &\\\hline \text { Selling expenses } & 45000 \\\hline \text { Administrative expenses } & \underline{12000} \\\hline \text { Total expenses } & 57000 \\\hline \text { Profit } & \$ 73000 \\\hline \text { Other reventes and (expenses) : } & \\\hline \text { Loss on sale of capital assets } & (26,000) \\\hline \text { Interest expense } & (1000) \\\hline \text { Total other revenues and (expenses) } & (27,000) \\\hline \text { Profit before taxes } & \$ 46,000 \\\hline \text { Income tax expense } & \$ 000 \\\hline \text { Net profit } & \$ 40,000 \\\hline\end{array}$ Calculate the times-interest-earned ratio.

A) 46 times
B) 47 times
C) 40 times
D) 73 times