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Exercise 13-11 Here is the income statement for Teal Mountain Inc. $402,900 TEAL MOUNTAIN INC. Income Statement For the Year Ended December 31, 2020 Sales revenue Cost of goods sold Gross profit Expenses (including $10,200 interest and $29,600 income taxes) 89,200 Net income 256,700 146,200 $ 57,000 Additional information: 1. Common stock outstanding January 1, 2020, was 30,000 shares, and 39,000 shares were outstanding at December 31, 2020. 2. The market price of Teal Mountain stock was $15 in 2020. Cash dividends of $24,700 were paid, $6,500 of which were to preferred stockholders. 3. Compute the following measures for 2020. (Round all answers to 2 decimal places, e.g. 1.83 or 2.51%) (a) Earnings per share (b) Price-earnings ratio times (c) Payout ratio % (d) Times interest earned times