Here is the income statement for Jean LeFay, Inc:

Additional information:1. Common stock outstanding January 1,1998 , was 30,000 shares. On July 1, 1998, 10,000more shares were issued.2. The market price of Jean LeFay, Inc., stock was \(\$ 15\) in 1998.3. Cash dividends of \(\$ 21,000\) were paid, \(\$ 5,000\) of which were to preferred stockholders.4. Net cash provided by operating activities \(\$ 98,000\).InstructionsCompute the following measures for 1998:

(a) Earnings per share

(d) Times interest earned ratio

(b) Price-earnings ratio

(e) Cash return on sales ratio

(c) Payout ratio

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Sales Cost of goods sold Gross profit JEAN LEFAY, INC. Income Statement For the Year Ended December 31, 1998 Expenses (including $20,000 interest and $24,000 income taxes) Net income $400,000 230,000 170,000 100,000 $ 70,000