Here is the income statement for Lily, Inc. Lily, Inc. Income Statement For the Year Ended December 31, 2022 Net sales Cost of goods sold Gross profit Expenses (including $10,000 interest and $21,500 income taxes) Net income Additional information: 2 3. $408.000 218,000 190,000 90,000 $ 100,000 Common stock outstanding January 1, 2022, was 21,000 shares, and 25,000 shares were outstanding at December 31, 2022. (Use a simple average for weighted average) The market price of Lily stock was $28 on December 31, 2022 Cash dividends of $29,680 were declared and paid. Compute the following measures for 2022. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all other answers to 1 decimal place. eg. 6.8 or 6.8%)
Here is the income statement for Lily, Inc. Lily, Inc. Income Statement For the Year Ended December 31, 2022 Net sales Cost of goods sold Gross profit Expenses (including $10,000 interest and $21,500 income taxes) Net income Additional information: 2 3. $408.000 218,000 190,000 90,000 $ 100,000 Common stock outstanding January 1, 2022, was 21,000 shares, and 25,000 shares were outstanding at December 31, 2022. (Use a simple average for weighted average) The market price of Lily stock was $28 on December 31, 2022 Cash dividends of $29,680 were declared and paid. Compute the following measures for 2022. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all other answers to 1 decimal place. eg. 6.8 or 6.8%)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Compute the following measures for 2022. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all other answers to 1 decimal place,
eg. 6.8 or 6.8%)
(a) Earnings per share
(b)
(c)
Price-earnings ratio
Payout ratio
(d) Times interest earned
times
%
times

Transcribed Image Text:Here is the income statement for Lily, Inc.
Net sales
Cost of goods sold
Gross profit
4
Expenses (including $10,000 interest and $21,500 income taxes)
Net income
Additional information:
P
Lily, Inc.
Income Statement
For the Year Ended December 31, 2022
2
3.
$408.000
218,000
190,000
90,000
$ 100,000
Common stock outstanding January 1, 2022, was 21,000 shares, and 25,000 shares were outstanding at December 31, 2022.
(Use a simple average for weighted average.)
The market price of Lily stock was $28 on December 31, 2022
Cash dividends of $29,680 were declared and paid.
Compute the following measures for 2022. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all other answers to 1 decimal place,
eg. 6.8 or 6.8%)
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