Sunland Medical manufactures hospital beds and other institutional furniture. The companys comparative balance sheet and income statement for 2019 and 2020 follow.

Sunland Medical Comparative Balance Sheet As of December 31
		2020		2019
Assets
Current assets
Cash		$398,000		$417,450
Accounts receivable, net		1,099,000		776,450
Inventory		746,000		681,000
Other current assets		381,350		247,000
Total current assets		2,624,350		2,121,900
Property, plant, & equipment, net		8,645,005		8,440,010
Total assets		$11,269,355		$10,561,910
Liabilities and Stockholders Equity
Current liabilities		$3,209,000		$2,846,050
Long-term debt		3,702,600		3,892,700
Total liabilities		6,911,600		6,738,750
Preferred stock, $5 par value		58,950		59,000
Common stock, $0.25 par value		104,650		103,850
Retained earnings		4,194,155		3,660,310
Total stockholders equity		4,357,755		3,823,160
Total liabilities and stockholders equity		$11,269,355		$10,561,910

Sunland Medical Comparative Income Statement and Statement of Retained Earnings For the Year
		2020		2019
Sales revenue (all on account)		$10,177,250		$9,613,900
Cost of goods sold		5,612,700		5,298,700
Gross profit		4,564,550		4,315,200
Operating expenses		2,840,300		2,634,200
Net operating income		1,724,250		1,681,000
Interest expense		300,400		308,700
Net income before taxes		1,423,850		1,372,300
Income taxes (30%)		427,155		411,690
Net income		$996,695		$960,610
Dividends paid
Preferred dividends		29,500		29,550
Common dividends		433,350		413,050
Total dividends paid		462,850		442,600
Net income retained		533,845		518,010
Retained earnings, beginning of year		3,660,310		3,142,300
Retained earnings, end of year		$4,194,155		$3,660,310

(a)

Calculate the earnings per share (average of 425,000 shares outstanding for the year) for 2020. (Round answer to 2 decimal places, e.g. 2.55.)

Earning per share

$enter the earning per share in dollars rounded to 2 decimal places per share

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(b)

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

enter the price to earnings ratio rounded to 1 decimal place

(c)

Calculate the dividend payout ratio (dividends of $1.25 per common share for the year) for 2020. (Round answer to 1 decimal place, e.g. 2.5.)

Dividend payout ratio

enter the dividend payout ratio in percentages rounded to 1 decimal place %