Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Here is the income statement for Windsor, Inc. WINDSOR, INC. Income Statement For the Year Ended December 31, 2022 Net sales $423,000 Cost of goods

image text in transcribed

Here is the income statement for Windsor, Inc. WINDSOR, INC. Income Statement For the Year Ended December 31, 2022 Net sales $423,000 Cost of goods sold 232,600 Gross profit 190,400 Expenses (including $11,100 interest and $25,500 income taxes) 77,500 Net income $ 112,900 Additional information: 1. Common stock outstanding January 1, 2022, was 21,800 shares, and 37,900 shares were outstanding at December 31, 2022. (Use a simple average for weighted-average.) 2. The market price of Windsor stock was $13 on December 31, 2022. 3. Cash dividends of $20,300 were declared and paid. Compute the following measures for 2022. (Round earnings per share to 2 decimal places, e.g. 1.83 and all answers to 1 decimal places, e.g. 1.8 or 2.5%) (a) Earnings per share $ (b) Price-earnings ratio times (c) Payout ratio % (d) Times interest earned times

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions