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Here is the income statement for Larkspur, Inc. LARKSPUR, INC. Income Statement For the Year...

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Accounting

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Here is the income statement for Larkspur, Inc. LARKSPUR, INC. Income Statement For the Year Ended December 31, 2022 Net sales $449,500 Cost of goods sold 218,400 Gross profit 231,100 Expenses (including $14,800 interest and $21,600 income taxes) 77,600 Net income $ 153,500 Additional information: 1. Common stock outstanding January 1, 2022, was 20,900 shares, and 36,200 shares were outstanding at December 31, 2022. (Use a simple average for weighted-average.) 2. The market price of Larkspur stock was $12 on December 31, 2022. 3. . Cash dividends of $23,600 were declared and paid. Additional information: 1. Common stock outstanding January 1, 2022, was 20,900 shares, and 36,200 shares were outstanding at December 31, 2022. (Use a simple average for weighted average.) 2. The market price of Larkspur stock was $12 on December 31, 2022. 3. Cash dividends of $23,600 were declared and paid. Compute the following measures for 2022. (Round earnings per share to 2 decimal places, e.g. 1.83 and all answers to 1 decimal places, e.g. 1.8 or 2.5%) (a) Earnings per share $ 5.23 (b) Price-earnings ratio 2.3 times (c) Payout rati 12.3 % (d) Times interest earned 12.83 times

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