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Myers, Inc. Income Statement For the Year Ended December 31, 2020 Sales revenue Cost of goods sold Gross profit Expenses (including $10,000 interest and $26,000
Myers, Inc. Income Statement For the Year Ended December 31, 2020 Sales revenue Cost of goods sold Gross profit Expenses (including $10,000 interest and $26,000 income taxes) Net income $442,000 208,000 234,000 88,000 $ 146,000 Additional information: 1. 2 Common stock outstanding January 1, 2020, was 16,000 shares, and 24,000 shares were outstanding at December 31, 2020. The market price of Myers stock was $18.46 in 2020. Cash dividends of $29,200 were paid, $4,000 of which were to preferred stockholders. 3. Compute the following measures for 2020. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%.) X (a) Earnings per share X (b) Price-earnings ratio times (c) Payout ratio % (d) Times interest earned times
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