LARKSPUR, INC. Income Statement For the Year Ended December 31, 2017 Sales revenue Cost of goods sold Gross profit Expenses (including $11,200 interest and $27,300 income $405,300 204,000 201,300 94,400 $106,900 taxes) Net income Additional information: 1. Common stock outstanding January 1, 2017, was 20,700 shares, and 39,800 shares were outstanding at December 31, 2017. 2. The market price of Larkspur stock was $12 in 2017. 3. Cash dividends of $19,400 were paid, $4,800 of which were to preferred stockholders Compute the following measures for 2017. (Round all answers to 2 decimal places, e.g. 1.83 or 2.51%) (a) Earnings per share (b) Price-earnings ratio (c) Payout ratio (d) Times interest earned times 13.66 % times