Income Statement For the Year Ended December 31, 2022 Net sales Cost of goods sold Gross profit Expenses (including $16,100 interest and $21,900 income taxes) Net income Additional information: 1. $420,100 235.100 185,000 72,500 $112.500 Common stock outstanding January 1, 2022, was 22,400 shares, and 36,600 shares were outstanding at December 31, 2022. (Use a simple average for weighted-average.) 2. The market price of Windsor stock was $12 on December 31, 2022. 3. Cash dividends of $22,600 were declared and paid. Compute the following measures for 2022. (Round earnings per share to 2 decimal places, e.g. 1.83 and all answers to 1 decimal places, e.g. 1.8 or 2.5%)
Income Statement For the Year Ended December 31, 2022 Net sales Cost of goods sold Gross profit Expenses (including $16,100 interest and $21,900 income taxes) Net income Additional information: 1. $420,100 235.100 185,000 72,500 $112.500 Common stock outstanding January 1, 2022, was 22,400 shares, and 36,600 shares were outstanding at December 31, 2022. (Use a simple average for weighted-average.) 2. The market price of Windsor stock was $12 on December 31, 2022. 3. Cash dividends of $22,600 were declared and paid. Compute the following measures for 2022. (Round earnings per share to 2 decimal places, e.g. 1.83 and all answers to 1 decimal places, e.g. 1.8 or 2.5%)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Net sales
Cost of goods sold
Gross profit
Expenses (including $16,100 interest and $21,900 income taxes)
Net income
Additional information:
1.
2.
3.
Income Statement
For the Year Ended December 31, 2022
(c)
Payout ratio
Common stock outstanding January 1, 2022, was 22,400 shares, and 36,600 shares were outstanding at December 31, 2022.
(Use a simple average for weighted-average.)
The market price of Windsor stock was $12 on December 31, 2022.
Cash dividends of $22,600 were declared and paid.
Compute the following measures for 2022. (Round earnings per share to 2 decimal places, e.g. 1.83 and all answers to 1 decimal places, e.g.
1.8 or 2.5%)
$420,100
235.100
185,000
72,500
(d) Times interest earned
$112.500
%
times
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