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  3. 8. chapter 18. the income statement for myers, app

8. Chapter 18. The income statement for Myers, appears below. Sales revenue $400,000 Cost of...

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8. Chapter 18. The income statement for Myers, appears below. Sales revenue $400,000 Cost of goods sold 230,000 Gross profit 170,000 Expenses (including $16,000 interest and $24,000 income taxes) 98,000 $ 72,000 Net income Additional infomation: Common stock outstanding January 1, 2020 was 32,000 shares and 40,000 shares were outstanding at December 31, 2020. The market price of Myers stock was $14 at December 31 2020. Cash dividends of $21,000 were paid, $5,000 of which were to preferred stockholders. Compute the following ratios for 2020. a) Earnings per share. b) Price-earnings ratio. c) Payout ratio. d) Times interest earned

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