Matthias Medical manufactures hospital beds and other institutional furniture. The companys comparative balance sheet and income statement for 2012 and 2013 follow.

Matthias Medical Comparative Balance Sheet As of December 31
2013	2012
Assets
Current assets
Cash	$333,000	$417,450
Accounts receivable, net	1,065,000	776,500
Inventory	730,000	681,050
Other current assets	358,000	247,050
Total current assets	2,486,000	2,122,050
Property, plant, & equipment, net	9,700,000	8,454,260
Total assets	$12,186,000	$10,576,310
Liabilities and Stockholders Equity
Current liabilities	$3,143,000	$2,846,100
Long-term debt	3,702,700	3,892,700
Total liabilities	6,845,700	6,738,800
Preferred stock, $5 par value	58,600	58,600
Common stock, $0.25 par value	184,000	103,800
Retained earnings	5,097,700	3,675,110
Total stockholders equity	5,340,300	3,837,510
Total liabilities and stockholders equity	$12,186,000	$10,576,310

Matthias Medical Comparative Income Statement and Statement of Retained Earnings For the Year
2013	2012
Sales revenue (all on account)	$10,350,000	$9,613,900
Cost of goods sold	4,480,000	5,298,750
Gross profit	5,870,000	4,315,150
Operating expenses	2,840,300	2,634,200
Net operating income	3,029,700	1,680,950
Interest expense	361,000	308,650
Net income before taxes	2,668,700	1,372,300
Income taxes (30%)	800,610	411,690
Net income	$1,868,090	$960,610
Dividends paid
Preferred dividends	29,500	29,500
Common dividends	416,000	453,000
Total dividends paid	445,500	482,500
Net income retained	1,422,590	478,110
Retained earnings, beginning of year	3,675,110	3,197,000
Retained earnings, end of year	$5,097,700	$3,675,110

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Calculate the earnings per share (average of 370,000 shares outstanding for the year) for 2013. (Round answer to 2 decimal places, e.g. 2.55.)

Earning per share

$ per share

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Calculate the price/earnings ratio (market price of $45 at year-end) for 2013. (Round answer to 2 decimal places, e.g. 2.55.)

Price/earnings ratio

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Calculate the dividend payout ratio (dividends of $1.04 per common share for the year) for 2013. (Round answer to 2 decimal places, e.g. 2.55%.)

Dividend payout ratio

%