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Step by step instructions please CoursHeroTranscribedText: Here IS the Income Statement for Myers, 1nc....

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Accounting

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CoursHeroTranscribedText: Here IS the Income Statement for Myers, 1nc. Myers. lne. Income Statement For the \em' Ended December 31. 2020 Sales revenue $412,000 Cost of goods sold 220,000 Gross profit 192,000 Expenses (including $10,000 interest and $29,500 income taxes) 94,000 Net income $ 98,000 Additional information: 1. Common stock outstanding January 1, 2020, was 16,000 shares, and 24,000 shares were outstanding at December 31, 2020. 2. The market price of Myers stock was $11.04 in 2020. 3. Cash dividends of $23,520 were paid, $6,000 of which were to preferred stockholders. Compute the following measures for 2020. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%.) (a) Earnings per share (b) Priceearnings ratio times (c) Payout ratio % (d) Times interest earned times

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