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Here is the income statement for Myers, Inc.
Myers, Inc.
Income Statement
For the Year Ended December 31, 2020
Sales revenue $432,000
Cost of goods sold 212,000
Gross profit 220,000
Expenses (including $10,000 interest and $29,500 income taxes) 86,000
Net income $ 134,000
Additional information:
Problem 1: Compute the following measures for 2020. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%.)
(a) Earnings per share
(b) Price-earnings ratio
(c) Payout ratio
(d) Times interest earned
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