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
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 21E
Related questions
Question
100%
The income statement for Sunland, Inc. is as follows:
![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fadfa93f3-2f01-4d0e-a09a-e44d84b16ba8%2Fe6dd743d-5064-4778-88d7-760fda677316%2Fvvn1ud_processed.jpeg&w=3840&q=75)
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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