Here is the income statement for Sheridan, Inc. Sheridan, Inc. Income Statement For the Year Ended December 31, 2022 Net sales Cost of goods sold Gross profit Expenses (including $10,000 interest and $20,500 income taxes) Net income $434,000 222,000 212,000 87,000 $ 125,000 Additional information 1 Common stock outstanding January 1, 2022, was 58,500 shares, and 62,500 shares were outstanding at December 31, 2022. (Use a simple average for weighted average.) The market price of Sheridan stock was $10 on December 31, 2022 Cash dividends of $27,300 were declared and paid. 2 3 Compute the following measures for 2022. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all other answers to 1 decimal place, es. 6.8 or 6,8%) Additional information: 1. Common stock outstanding January 1, 2022, was 58,500 shares, and 62,500 shares were outstanding at December 31, 202 (Use a simple average for weighted average.) The market price of Sheridan stock was $10 on December 31, 2022 Cash dividends of $27,300 were declared and paid. 2 3. Compute the following measures for 2022. (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