eworkid=622730992&questionid=10&dlushed=true&cid=6911858¢er- tatement Lanfield, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 2024 2023 Net Sales Revenue $ 458,000 $ 427,000 Cost of Goods Sold 239,000 217,000 Gross Profit 219,000 210,000 139,000 137,000 Operating Expenses Income From Operations 80,000 73,000 12,000 Interest Expense 16,000 Income Before Income Tax 68,000 57,000 Print Done 6 E L C workid-622730992&questionid=10&flushed-true&cld-6911858&icenterwin-yes tement Years Ended December 31, 2024 and 2023 2024 2023 $ 458,000 $427,000 Net Sales Revenue Cost of Goods Sold 239,000 217,000 Gross Profit 219,000 210,000 Operating Expenses 139,000 137,000 Income From Operations 80,000 73,000 Interest Expense 12,000 16,000 Income Before Income Tax 68,000 57,000 Income Tax Expense 20,000 24,000 $ 48,000 $ 33,000 Net Income Print Done homeworkid-622730992&questionid-10&flushed=true&cid=6911858¢erwin-yes Balance sheet Assets Current Assots Cash (Click the icon to view the additional fr Read the requirements Lanfield, Inc. Comparative Balance Sheet December 31, 2024 and 2023 2024 2023 2022 Accounts Receivables, Net Merchandise Inventory Prepaid Expenses Total Current Assets Property, Plant, and Equipment, Net $ 94,000 $ 91,000 114,000 116,000 $103.000 145,000 101,000 202.000 12.000 7.000 365.000 375,000 216,000 182.000 Print Done L 5 C A homeworkid-622730992&questionid-10&flushed-true&cid=6911858¢erwin-yes Balance sheet Total Assets (Click the icon to view the additional fin Read the requirements 5 581,000 $ 557,000 5597,000 Liabilities Total Current Liabilities Long-term Liabilities Total Liabilities Stockholders' Equity $227,000 $241,000 117,000 99,000 344,000 340.000 Preferred Stock, 5% 96.000 96.000 Common Stockholders' Equity, no par 141,000 121,000 88,000 Total Liabilities and Stockholders' Equity $ 581,000 $ 557,000 Selected 2022 amounts A1 Print Done 6 2024 2023 2.01 Requirement 1i. Compute the price/earnings ratio for 2024 and 2023. Begin by selecting the formula to compute the price/earnings ratio. Price/earnings ratio Market price per share of common stock + Earnings per share Now, compute the price/earnings ratio for 2024 and 2023. (Round your interim calculations and final answers to two decimal places, XXXX) 2024 2023 Price/earnings ratio Help me solve this Etext pages Calculator Type here to search D C L O