SUTHERLAND, INC. Income Statement For the Year Ended December 31, 2017 Net sales Cost of goods sold Gross profit Expenses (including $15,500 interest and $29,500 income taxes) Net income $432,000 212,000 220,000 86,000 $ 134,000 Additional information: 1. 2. The weighted average common shares outstanding in 2017 were 36,000 shares. The market price of Sutherland, Inc. stock was $18 in 2017. Cash dividends of $23,000 were paid, $3,600 of which were to preferred stockholders 3. Compute the following ratios for 2017. (Round Earnings per share to 2 decimal places Earnings per share 0.8 Price-earnings ratio 5.0 times X Payout ratio 0.6|| % Times interest earned 11.5 times Click if you would like to Show Work for this question: Open Show Work