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The income statement for Woodford Corporation for the year ended December 31, 2021 appears below: Sales Cost of goods sold Gross profit Expenses $ 610,000 380,000 230,000 180,000* Profit 50,000 *Includes $30,000 of interest expense and $16,000 of income tax expense. Additional information: 1. The weighted average number of common shares issued on December 31, 2021 were 50,000 shares. 2. The market price of Woodford's shares was $18 at the end of 2021. 3. Cash dividends of $10,000 were paid, $6,000 of which were paid to preferred shareholders. Instructions a) Calculate the following ratios for 2021: i. earnings per share ii.price-earnings iii.interest coverage iv.total dividend payout b) Comment on the above ratios, assuming the averages for the industry in which Woodford operates are as follows: (i) earnings per share $1.20 (ii)price-earnings 10 times (iii)interest coverage 2.2 times