Blossom Medical Comparative Balance Sheet As of December 31 2020 2019 Assets Current assets Cash $366,000 $417.500 Accounts receivable, net 1,038,000 776,400 Inventory 733,000 681,000 Other current assets 381,400 247,000 Total current assets 2.518,400 2.121,900 Property, plant, & equipment, net 8,710.515 8,440,030 Total assets $11,228,915 $10.561,930 Liabilities and Stockholders' Equity Current liabilities $3,169,000 $2.846,000 Long-term debt 3,702,600 3,892,600 Total liabilities 6,871,600 6,738,600 Preferred stock, $5 par value 58,900 59,000 Common stock, $0.25 par value 104,700 103,800 Retained earnings 4,193,715 3,660,530 Total stockholders' equity 4,357,315 3,823,330 Total liabilities and stockholders' equity $11278915 $10.561.930Blossom Medical Comparative Income Statement and Statement of Retained Earnings For the Year 2020 2019 Sales revenue (all on account) $10.177,300 $9.614,000 Cost of goods sold 5,613,550 5,298,750 Gross profit 4.563,750 4,315,250 Operating expenses 2.840,300 2,634.150 Net operating income 1,723,450 1,681,100 Interest expense 300,400 308,700 Net income before taxes 1,423,050 1,372,400 Income taxes (30%) 426.915 411,720 Net income $996,135 $960,680 Dividends paid Preferred dividends 29.500 29,450 Common dividends 433,450 413,000 Total dividends paid 462.950 442,450 Net income retained 533,185 518,230 Retained earnings, beginning of year 3,660.530 3,142,300 Retained earnings, end of year $4,193,715 $3,660,530(a) Calculate the earnings per share (average of 425,000 shares outstanding for the year) for 2020. (Round answer to 2 decimal places, eg. 255.) Earning per share per share(b) Calculate the price/earnings ratio (market price of $48 at year-end) for 2020. (Round answer to 1 decimal place, e.g. 2.5) Price/earnings ratio(c) Calculate the dividend payout ratio (dividends of $1.25 per common share for the year) for 2020. (Round answer to 1 decimal place, e.g. 2.5.) Dividend payout ratio