Calculate the earnings per share (average of 418,000 shares outstanding for the year) for 2020. (Round answer to 2 decimal places, e.g. 2.55.)earnings per share$2.31per shareCalculate 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 ratio20.8Calculate 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?%*I thought the answer was 47.9%, but it says it is not correct!? **Sheridan Medical: Comparative Balance Sheet Analysis (2019-2020)**Sheridan Medical, a manufacturer of hospital beds and other institutional furniture, provides its comparative balance sheet and income statements for the fiscal years ending December 31, 2019, and December 31, 2020. Below are the detailed figures for a comprehensive understanding of the financial status of the company.---### Comparative Balance Sheet **As of December 31**| **Category** | **2020** | **2019** ||----------------------------------------------|--------------|--------------|| **Assets** | | || *Current Assets:* | | || Cash | $391,000 | $417,400 || Accounts receivable, net | $1,018,000 | $776,500 || Inventory | $720,000 | $681,050 || Other current assets | $381,350 | $247,050 || **Total current assets** | $2,510,350 | $2,122,000 || | | || Property, plant, & equipment, net | $8,717,185 | $8,440,050 || | | || **Total assets** | $11,227,535 | $10,562,050 || **Liabilities and Stockholders' Equity** | | ||----------------------------------------------|--------------|--------------|| *Current liabilities:* | | || Current liabilities | $3,167,000 | $2,846,100 || Long-term debt | $3,702,600 | $3,892,700 || **Total liabilities** | $6,869,600 | $6,738,800 || | | || *Stockholders' Equity:* | | || Preferred stock, $5 par value | $58,950 | $58,950 || Common stock, $0.25 par value | $104,650 | $103,900 || Retained earnings | $4,194,335 | $3,660,400 || **Total stockholders' equity** | $4, ### Sheridan Medical#### Comparative Income Statement and Statement of Retained Earnings for the YearThis financial summary provides a side-by-side comparison of Sheridan Medical's income and retained earnings for the fiscal years 2020 and 2019. Below is a detailed transcription and analysis of the presented financial data:---**Sales Revenue (all on account)**- **2020**: $10,177,250- **2019**: $9,614,000**Cost of Goods Sold**- **2020**: $5,612,650- **2019**: $5,298,700**Gross Profit**- **2020**: $4,564,600- **2019**: $4,315,300**Operating Expenses**- **2020**: $2,840,250- **2019**: $2,634,150**Net Operating Income**- **2020**: $1,724,350- **2019**: $1,681,150**Interest Expense**- **2020**: $300,300- **2019**: $308,650**Net Income Before Taxes**- **2020**: $1,424,050- **2019**: $1,372,500**Income Taxes (30%)**- **2020**: $427,215- **2019**: $411,750**Net Income**- **2020**: $996,835- **2019**: $960,750**Dividends Paid**- **Preferred Dividends** - **2020**: $29,450 - **2019**: $29,550- **Common Dividends** - **2020**: $433,450 - **2019**: $413,100- **Total Dividends Paid** - **2020**: $462,900 - **2019**: $442,650**Net Income Retained**- **2020**: $533,935- **2019**: $518,100**Retained Earnings, Beginning of Year**- **2020**: $3,660,400- **2019**: $3,142,300**Retained Earnings,

Name: Calculate the earnings per share (average of 418,000 shares outstandin
Uploaded: 2022-11-22T13:58:24.000Z
Channel: Bartleby
Description: Calculate the earnings per share (average of 418,000 shares outstanding for the year) for 2020. (Round answer to 2 decimal places, e.g. 2.55.)earnings per share$2.31per shareCalculate the price/earnings ratio (market price of $48 at year-end) for 202