Bonds payable,

5%

\

$5,500,000\ 1,200,000\ 2,000,000

\

( 4)/(%) Preferred stock, $100 par 1,200,000\ Common stock, $10 par 2,000,000

\ Net income was

$545,000

and income tax expense for the current year amounted to

$252,500

. Cash dividends paid on common stock were

$120,000

, and the common stock was selling for

$29

per share at the end of the year. There were no ownership changes during the year.\ Determine each of the following: (Round earnings per share to 2 decimal places, e.g. 2.25 and all other answers to 1 decimal place, e.g. 5.2.)\ (a) Number of times that bond interest was earned times\ (b) Earnings per share for common stock

$

per share\ (c) Price-earnings ratio times

Net income was $545,000 and income tax expense for the current year amounted to $252,500. Cash dividends paid on common stock were $120,000, and the common stock was selling for $29 per share at the end of the year. There were no ownership changes during the year. Determine each of the following: (Round earnings per share to 2 decimal places, e.g. 2.25 and all other answers to 1 decimal place, e.g. 5.2.) (a) Number of times that bond interest was earned times (b) Earnings per share for common stock $ per share (c) Price-earnings ratio times