income statement for Kingbird,I KINGBIRD, INC. Income Statement For the Year Ended December 31, 2017 Sales revenue Cost of goods sold Gross profit Expenses (including $10,000 interest and $20,000 income taxes) Net income $400,000 200,000 200,000 70,000 $150,000 Additional information: Common stock outstanding January 1, 2017, was 20,000 shares, and 35,000 shares were outstanding at December 31, 2017 2 The market price of Kingbird stock was $12 in 2017 3. Cash dividends of $19,000 were paid, $3,000 of which were to preferred stockholders. compute the following measures for 2017. (Round all answers to 2 decimal places, eg. 1.83 or 2.51%) (a) Earnings per share (b) Price-earnings ratio (c) Payout ratio (d) Times interest earned times times