Here is the income statement for Myers, Inc.

QUESTION: WHAT IS C) PAYOUT RATIO?

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 $26,000 income taxes) Net income $416,000 198,000 218,000 86,000 $ 132,000 Additional information: 1. 2. 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 $13.75 in 2020. Cash dividends of $29,040 were paid, $7,000 of which were to preferred stockholders. 3. 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 6.25 > (b) Price-earnings ratio 2.2 times x! (c) Payout ratio 221 % (d) Times interest earned 16.8 times