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Exercise 18-9 The income statement for Sutherland, Inc., appears below. SUTHERLAND, INC. Income Statement For the Year Ended December 31, 2017 Net sales Cost of
Exercise 18-9 The income statement for Sutherland, Inc., appears below. SUTHERLAND, INC. Income Statement For the Year Ended December 31, 2017 Net sales Cost of goods sold Gross profit Expenses (including $16,500 interest and $27,000 income taxes) Net income $414,000 218,000 196,000 108,000 $ 88,000 Additional information: 1 2. 3. The weighted average common shares outstanding in 2017 were 34,000 shares. The market price of Sutherland, Inc. stock was $11 in 2017. Cash dividends of $22,000 were paid, $4,200 of which were to preferred stockholders. Compute the following ratios for 2017. (Round Earnings per share to 2 decimal places, e.g. 1.75, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%.) Earnings per share $ Price-earnings ratio times Payout ratio % Times interest earned times Click if you would like to Show Work for this question: Open Show Work
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