Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Income Statement For the Year Ended December 31, 2022 Net sales $420,100 Cost of goods sold 235,100 Gross profit 185,000 Expenses (including $16,100 interest
Income Statement For the Year Ended December 31, 2022 Net sales $420,100 Cost of goods sold 235,100 Gross profit 185,000 Expenses (including $16,100 interest and $21,900 income taxes) 72,500 Net income $112,500 Additional information: 1. Common stock outstanding January 1, 2022, was 22,400 shares, and 36,600 shares were outstanding at December 31, 2022. (Use a simple average for weighted-average.) 2. The market price of Windsor stock was $12 on December 31, 2022. 3. Cash dividends of $22,600 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 (c) Payout ratio (d) Times interest earned times % times
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started