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Question - The income statement for Sutherland, Inc., appears below.
SUTHERLAND, INC. Income Statement For the Year Ended December 31. 2017
Net sales
$408,000
Cost of goods sold
218,000
Gross profit
190,000
Expenses (including 512,500 interest and $21,500 income taxes)
84,000
Net income
$106,000
Additional information:
1. The weighted-average common shares outstanding in 2017 were 25,000 shares.
2. The market price of Sutherland, Inc. stock was $10 in 2017.
3. Cash dividends of $30,000 were paid, $6,000 of which were to preferred stockholders.
Compute the following ratios for 2017.
(a) Earnings per share
(b) Price-earnings ratio times
(c) Payout ratio
(d) Times interest earned
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