Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. *exercise 13-11 your answer is incorrect. try agai

*Exercise 13-11 Your answer is incorrect. Try again Here is the income statement for Eberle,...

50.1K

Verified Solution

Question

Accounting

image

*Exercise 13-11 Your answer is incorrect. Try again Here is the income statement for Eberle, Inc. EBERLE, INC Income Statement For the Year Ended December 31, 2014 Sales revenue Cost of goods sold Gross profit Expenses (including $12,100 interest and $26,500 income taxes) Net income $414,000 220,300 193,700 79,200 $ 114,500 Additional information: 1. Common stock outstanding January 1, 2014, was 23,200 shares, and 37,100 shares were outstanding at December 31, 2014 2. The market price of Eberle, Inc., stock was $14 in 2014 3. Cash dividends of $23,700 were paid, $5,300 of which were to preferred stockholders Compute the following measures for 2014. (Round all answers to 2 decimal places, e.g. 1.83 or 2.51%) (a) Earnings per share (b) Price-earnings ratio 3 (c) Payout ratio (d) Times interest earned 73.10 3.09 times 4.53 20.70 times

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students