Here is the income statement for Skysong, Inc. SKYSONG, INC. Income Statement For the Year Ended December 31, 2020 Sales revenue Cost of goods sold Gross profit Expenses (including $16,700 interest and $26,400 income taxes) Net income $404,100 234,000 170,100 83,500 $ 86,600 Additional information: 1. 2. Common stock outstanding January 1, 2020, was 24,700 shares, and 37,100 shares were outstanding at December 31, 2020. The market price of Skysong stock was $14 in 2020. Cash dividends of $22,900 were paid, $4,900 of which were to preferred stockholders. 3. 1. Common stock outstanding January 1, 2020, was 24,700 shares, and 37,100 shares were outstanding at December 31, 2020. The market price of Skysong stock was $14 in 2020. Cash dividends of $22,900 were paid, $4,900 of which were to preferred stockholders. 2. 3. Compute the following measures for 2020. (Round all answers to 2 decimal places, eg. 1.83 or 2.51%) (a) Earnings per share $ (b) Price-earnings ratio times (c) Payout ratio % (d) Times interest earned times