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RCES KINGBIRD, INC. Income Statement For the Year Ended December 31, 2017 400,000 200,000 200,000...

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Accounting

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RCES KINGBIRD, INC. Income Statement For the Year Ended December 31, 2017 400,000 200,000 200,000 Study Expenses (including $10,000 interest and $20,000 income taxes)70,000 130,000 Sales revenue Cost of goods sold Gross proft Net income Additional information: 1. Common stock outstanding January 1, 2017, was 20,000 shares, and 35,000 shares were outstanding at December 31, 2017 2. The market price of Kingbird stock was $12 in 2017 3. Cash dividends of $19,000 were paid, $3,000 of which were to preferred stockholders Compute the following measures for 2017, (Round all answers to 2 decimal places, eg. 1.83 or 2.51%) (a) Earnings per share (b) Price-earnings ratio (e) Payout ratio (d) Times interest earned 3.63 3.3 times 12.51 % 16 times

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