Ivanhoe Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2019 and 2020 follow.

Ivanhoe Medical Comparative Balance Sheet As of December 31 2020 2019 Assets Current assets Cash $380,000 $417,500 Accounts receivable, net 1,035,000 776,500 Inventory 726,000 681,050 Other current assets 381,400 247,000 Total current assets 2,522,400 2,122,050 Property, plant, & equipment, net 8,738,625 8,439,845 Total assets $11,261,025 $10,561,895 Liabilities and Stockholders' Equity Current liabilities $3,201,000 $2,846,100 Long-term debt 3,702,650 3,892,600 Total liabilities 6,903,650 6,738,700 Preferred stock, $5 par value 58,900 58,900 Common stock, $0.25 par value 104,700 103,900 Retained earnings 4,193,775 3,660,395 Total stockholders' equity 4,357,375 3,823,195 Total liabilities and stockholders' equity $11,261,025 $10,561,895

Ivanhoe Medical Comparative Income Statement and Statement of Retained Earnings For the Year 2020 2019 Sales revenue (all on account) $10,177,200 $9,613,900 Cost of goods sold 5,613,150 5,298,750 Gross profit 4,564,050 4,315,150 Operating expenses 2,840,250 2,634,150 Net operating income 1,723,800 1,681,000 Interest expense 300,400 308,650 Net income before taxes 1,423,400 1,372,350 Income taxes (30%) 427,020 411,705 Net income $996,380 $960,645 Dividends paid Preferred dividends 29,550 29,550 Common dividends 433,450 413,050 Total dividends paid 463,000 442,600 Net income retained 533,380 518,045 Retained earnings, beginning of year 3,660,395 3,142,350 Retained earnings, end of year $4,193,775 $3,660,395 (a) Calculate the earnings per share (average of 418,000 shares outstanding for the year) for 2020. (Round answer to 2 decimal places, e.g. 2.55.)

Earning per share $enter the earning per share in dollars rounded to 2 decimal places per share

eTextbook and Media Attempts: 0 of 3 used (b) Calculate the price/earnings ratio (market price of $48 at year-end) for 2020. (Round answer to 1 decimal place, e.g. 2.5.)

Price/earnings ratio enter the price to earnings ratio rounded to 1 decimal place eTextbook and Media Attempts: 0 of 3 used (c) Calculate the dividend payout ratio (dividends of $1.25 per common share for the year) for 2020. (Round answer to 1 decimal place, e.g. 2.5.)

Dividend payout ratio enter the dividend payout ratio in percentages rounded to 1 decimal place %