Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Here is the incomestatement for Lily, Inc. Additional information: 1. Commonstock outstanding January 1,2022, was 21,000 shares, and 25,000 thares were outstandingat December 31,2022 (Use

image text in transcribed
image text in transcribed
Here is the incomestatement for Lily, Inc. Additional information: 1. Commonstock outstanding January 1,2022, was 21,000 shares, and 25,000 thares were outstandingat December 31,2022 (Use a simple average for weighted-average.) 2. The market price of Lily stock was $28 on December 31.2022 3. Cash dividends of $29,680 were declared and paid. Compute the following measures for 2022. (Round Eamirss per share to 2 decimal places, es. 1.65, and all other answers to 1 decimal place, c.s.8cos6.8 Additional information: 1. Common stock outstanding January 1,2022, was 21,000 shares, and 25,000 shares were outstanding at December 31, 2022 (Use a simple sverage for weighted-average) 2. The market price of Lily stock was $2 Bon December 31,2022 3. Cash dividends of $29,680 were declared and paid, Compute the following measures for 2022. (Round Eomings per share to 2 decimdl ploces, es. 1.65 , and alf other answers to 1 decimal ploce. es.68 or 6.x) (a) Earninesper share (b) Price-earnings ratio times (c) Payoutratio (d) Times interest earned times

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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