Here is the income statement for Myers, Inc. Myers, Inc. Income Statement For the Year Ended December 31, 2020 Sales revenue $424,000 Cost of goods sold 226,000 Gross profit 198,000 Expenses (including $10,000 interest and $28,500 income taxes) 96,000 Net income $ 102,000 Additional information: 1. Common stock outstanding January 1, 2020, was 16,000 shares, and 24,000 shares were outstanding at December 31, 2020. 2. The market price of Myers stock was $20.37 in 2020. 3. Cash dividends of $24,480 were paid, $5,000 of which were to preferred stockholders. 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%.) (a) Earnings per share $ (b) Price-earnings ratio times (c) Payout ratio % (d) Times interest earned times LINK TO TEXT
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Ответ:
Earnings per share = $4.85 per share
Price earning ratio = 4.2 times
Payout ratio = 19.10%
Times interest earned = 14.05 times
Explanation:
As per the data given in the question,
a) Earnings per share = (Net income - Preferred dividend) ÷ share outstanding
= ($102,000 - $5,000) ÷ 20,000 shares
= $4.85 per share
The 20,000 shares is come from
= (16,000 shares + 24,000 shares) ÷ 2
= 20,000 shares
b) Price earning ratio = MPS ÷ EPS
= $20.37 ÷ $4.85
= 4.2 Times
c) Payout ratio = ($24,480 - $5,000) ÷ $102,000
= 19.10%
d) Times interest earned = Income before interest and tax ÷ interest expense
= ($102,000 + $10,000 + $28,500) ÷ $10,000
= 14.05 times
Ответ:
This exact thing happen to me to
Explanation: