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Here is the income statement for Swifty, Inc. Swifty, Inc. Income Statement For the Year Ended December 31, 2022 Net sales $404,000 Cost of goods
Here is the income statement for Swifty, Inc. Swifty, Inc. Income Statement For the Year Ended December 31, 2022 Net sales $404,000 Cost of goods sold 186,000 Gross profit 218,000 Expenses (including $10,000 interest and $30,000 income taxes) 106,000 Net income $112,000 Additional information: 1. Common stock outstanding January 1, 2022, was 24,000 shares, and 28,000 shares were outstanding at December 31, 2022. (Use a simple average for weighted-average.) 2. The market price of Swifty stock was $30 on December 31, 2022 3. Cash dividends of $25,200 were declared and paid. 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 (c) Payout ratio (d) Times interest earned A times % times
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