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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 Cost of goods sold

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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 Cost of goods sold Gross profit Expenses (including $10,000 interest and $22,000 income taxes) Net income $450,000 196,000 254,000 98,000 $ 156,000 Additional information: 1. 2. 3. Common stock outstanding January 1, 2020, was 16,000 shares, and 24,000 shares were outstanding at December 31, 2020. The market price of Myers stock was $12.24 in 2020. Cash dividends of $21,840 were paid, $3,000 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 1.86 (b) Price-earnings ratio 6.6|| times (c) Payout ratio 14|| % (d) Times interest earned times

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