Information from a Manufacturing Company's Current Year Income Statement Follows

Information from a manufacturing company's current year income statement follows. Calculate the company's (a) profit margin ratio, (b) gross margin ratio, and (c) times interest earned.
$$\begin{array} { |l | l |} \hline \text { Sales } & \$ 850,000 \\ \hline \text { Cost af goods sold } & 455,000 \\\hline \text { Gross profit } & \$ 395,000 \\\hline \text { Operating expenses } & 260,000 \\\hline \text { Operating income } & \$ 135,000 \\\hline \text { Interest expense } & \underline { 32,000 } \\\hline \text { Income before taxes } & \$ 103,000 \\\hline \text { Income taxes expente } & 12,400 \\\hline \text { Net income } & \$ 90,600\end{array}$$