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Here is the income statement for Teal Mountain Inc. TEAL MOUNTAIN INC. Income Statement For the Year Ended December 31, 2022 Sales revenue $402,900 Cost
Here is the income statement for Teal Mountain Inc. TEAL MOUNTAIN INC. Income Statement For the Year Ended December 31, 2022 Sales revenue $402,900 Cost of goods sold 256,700 Gross profit 146,200 Expenses (including $10,200 interest and $29,600 income taxes) 89,200 Net income $ 57,000 Additional information: 1. Common stock outstanding January 1, 2022, was 30,000 shares, and 39,000 shares were outstanding at December 31, 2022. 2. The market price of Teal Mountain stock was $15 in 2022. 3. Cash dividends of $24,700 were paid, $6,500 of which were to preferred stockholders. Compute the following measures for 2022. (Round all answers to 2 decimal places, e.g. 1.83 or 2.51%) (a) Earnings per share 1.46 (b) Price-earnings ratio 10.27 times (c) Payout ratio 43.33 (d) Times interest earned 9.49 times
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