Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Here is the income statement for Metlock, Inc. METLOCK, INC. Income Statement For the Year Ended December 31, 2022 Sales revenue $446,200 Cost of goods
Here is the income statement for Metlock, Inc.
METLOCK, INC. Income Statement For the Year Ended December 31, 2022 | ||
---|---|---|
Sales revenue | $446,200 | |
Cost of goods sold | 211,400 | |
Gross profit | 234,800 | |
Expenses (including $16,400 interest and $28,500 income taxes) | 76,100 | |
Net income | $ 158,700 |
Additional information:
1. | Common stock outstanding January 1, 2022, was 29,400 shares, and 36,500 shares were outstanding at December 31, 2022. | |
2. | The market price of Metlock stock was $13 in 2022. | |
3. | Cash dividends of $24,300 were paid, $4,400 of which were to preferred stockholders. |
Compute the following measures for 2022. (Round all answers to 2 decimal places, e.g. 1.83 or 2.51%)
(a) | Earnings per share |
| |||
(b) | Price-earnings ratio |
| times | ||
(c) | Payout ratio |
| % | ||
(d) | Times interest earned |
| times |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started