The income statement for Sunland, Inc. is as follows: Sales revenue Cost of goods sold Gross profit Expenses (including $16,000 interest and $31,600 income taxes) Net income 1. Additional information: Common stock outstanding January 1, 2021 was 38,000 shares and 48,000 shares were outstanding at December 31, 2021 The market price of Sunland, Inc., stock was $16 in 2021. Cash dividends of $17,030 were paid, $2,530 of which were to preferred stockholders. 2. 3. SUNLAND, INC. Income Statement For the Year Ended December 31, 2021 Compute the following measures for 2021: (Round Earnings per share to 2 decimal places, e.g. 52.75. Round other answers to 1 decimal place, e.g. 52.7.) (a) Earnings per share (b) (c) Price-earnings ratio Payout ratio (d) Times interest earned $424,000 258,000 166,000 108,000 $58,000 VA times % times
The income statement for Sunland, Inc. is as follows: Sales revenue Cost of goods sold Gross profit Expenses (including $16,000 interest and $31,600 income taxes) Net income 1. Additional information: Common stock outstanding January 1, 2021 was 38,000 shares and 48,000 shares were outstanding at December 31, 2021 The market price of Sunland, Inc., stock was $16 in 2021. Cash dividends of $17,030 were paid, $2,530 of which were to preferred stockholders. 2. 3. SUNLAND, INC. Income Statement For the Year Ended December 31, 2021 Compute the following measures for 2021: (Round Earnings per share to 2 decimal places, e.g. 52.75. Round other answers to 1 decimal place, e.g. 52.7.) (a) Earnings per share (b) (c) Price-earnings ratio Payout ratio (d) Times interest earned $424,000 258,000 166,000 108,000 $58,000 VA times % times
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The income statement for Sunland, Inc. is as follows:
Transcribed Image Text:The income statement for Sunland, Inc. is as follows:
Sales revenue
Cost of goods sold
Gross profit
Expenses (including $16,000 interest and $31,600 income taxes)
Net income
1.
2.
3.
SUNLAND, INC.
Income Statement
For the Year Ended December 31, 2021
Additional information:
Common stock outstanding January 1, 2021 was 38,000 shares and 48,000 shares were outstanding at December 31, 2021.
The market price of Sunland, Inc., stock was $16 in 2021.
Cash dividends of $17,030 were paid, $2,530 of which were to preferred stockholders.
(a) Earnings per share
(b)
(c)
Compute the following measures for 2021: (Round Earnings per share to 2 decimal places, e.g. 52.75. Round other answers to 1 decimal
place, e.g. 52.7.)
Price-earnings ratio
Payout ratio
(d) Times interest earned
TA
$424,000
$
times
%
258,000
166,000
108,000
$58,000
times
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