$400,000 Lily, Inc. Income Statement For the Year Ended December 31, 2022 Net sales Cost of goods sold Gross profit Expenses (including $10,000 interest and $21.500 income taxes) Net income 218,000 190.000 90.000 $ 100,000 Additional information: 1. Common stock outstanding January 1, 2022, was 21,000 shares, and 25,000 shares were outstanding at December 31, 2022. (Use a simple average for weighted-average) The market price of Lily stock was $28 on December 31, 2022 Cash dividends of $29,680 were declared and paid. 2 3. Compute the following measures for 2022. (Round Earnings per share to 2 decimal places, es 165, and all other answers to 1 decimal place, 69.6.8 or 6.8%) (a) Earnings per share $ (b) Price-earnings ratio times (c) Payout ratio % (d) Times interest earned 1315 times