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Here is the income statement for Myers, Inc. Myers, Inc. Income Statement For the Year Ended December 31, 2020 Sales revenue $420,000 Cost of goods

Here is the income statement for Myers, Inc.

Myers, Inc. Income Statement For the Year Ended December 31, 2020

Sales revenue $420,000
Cost of goods sold 224,000
Gross profit 196,000
Expenses (including $10,000 interest and $21,500 income taxes) 106,000
Net income $ 90,000

Additional information:

1. Common stock outstanding January 1, 2020, was 16,000 shares, and 24,000 shares were outstanding at December 31, 2020.
2. The market price of Myers stock was $18.26 in 2020.
3. Cash dividends of $21,600 were paid, $7,000 of which were to preferred stockholders.

Compute the following measures for 2020. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%.)

(a) Earnings per share $

(b) Price-earnings ratio

times
(c) Payout ratio

%
(d) Times interest earned

times

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