Consider the following for BCs Best Bed Store Ltd.:

Income Statement For the Year Ended December 31, 20X1

Sales (all on credit) $3,500,000 Cost of goods sold 1,345,000 Gross profit 2,155,000 Selling expenses 566,000 General and admin expenses 190,000 Depreciation expense 135,000 Earnings before interest and taxes 1,264,000 Interest expense 82,750 Earnings before taxes 1,181,250 Tax expense 236,250 Earnings after taxes $945,000

Other information: At December 31, 20X1, shareholders' equity consisted of: $6.75 non-cumulative preferred shares 12,000 shares outstanding..............................$ 234,000 Common shares 45,000 shares outstanding.............................. 498,000

Retained earnings..................................................... 2,031,500

During 20X1, the company paid the full annual dividend on the preferred shares (i.e., $6.75 per share).

a. Calculate the dollar amount of the earnings available to common shareholders.

b. Calculate the earnings per share (EPS).

c. Regardless of your answer for Part B, above, assume that the EPS is $18.50 and that the common shares were trading at a market price per share of $148, compute the price-earnings ratio.

d. Compute the corporate tax rate.

e. Assuming the company paid a total dividend for 20X1 of $240,000, compute the common dividend per (common) share.

For Part F below, assume the following, regardless of your answers in the previous parts of this question: EPS = $18.50 Corporate tax rate = 21% Common dividend per share = $3.33 F. Compute the dividend payout ratio.

Please show calculation steps.