Matthias Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2019 and 2020 follow. 2019 Matthias Medical Comparative Balance Sheet As of December 31 2020 Assets Current assets Cash $397, 220 Accounts receivable.net 906,800 Inventory 743,000 Other current assets 381.300 Total current assets 2.428,320 Property, plant, & equipment, net 8,678,000 Total assets $11,106,320 $417.400 776,400 681,000 247.000 2.121,800 8.440,100 $10.561.900 Liabilities and Stockholders Equity Current liabilities Long-term debt Total liabilities Preferred stock 95 par value Common stock 0.25 par value Retained earnings Total stockholders equity Total liabilities and stockholders equity $2.934.700 3.700.600 6,635,800 58.900 104.600 41307 520 4.471020 $11.106,320 $2.846.000 3,892.600 6,788,600 58.900 103.800 3,660.600 3,823.600 $10.561.900 Matthias 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 5.411.800 5.298.700 Gross prot 4.765 400 4.315,200 Operating expenses 2.899.900 2.634 100 Net operating income 1865.500 1.681.100 Interest expense 300.300 308.600 Net income before taxes 1.565.200 1.372.500 Income taxes (3096 469 560 411.750 Net income $1,095.640 $960.750 Dividends paid 29 450 00.450 Preferred dividends Common dividends 419 270 413.000 Total dividends paid 448,720 442.450 Net income retained 646.9 20 518.300 Retained earnings, beginning of year 3.650.600 3.142.300 $4.307 520 $3,660.600 Retained earnings, end of year Your answer is correct. Calculate the earnings per share (average of 420,000 shares outstanding for the year) for 2020. (Round answer to 2 decimal places, e.g. 255.) Earning per share $ 2.54 per share e Textbook and Media Attempts: unlimited Your answer is correct Calculate the pricelearnings ratio (market price of $48 at year-end) for 2020. (Round answer to 1 decimal place, eg. 2.5.) Price/earnings ratio 18.9 Your answer is correct. 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 18.9 e Textbook and Media Attempts: unlimited (c) Calculate the dividend payout ratio (dividends of $1.25 per common share for the year) for 2020. (Round answer to 1 decimal place, eg 2.5.) Dividend payout ratio % e Textbook and Media Seve for Later Attempts: unlimited Submit