Question: Here is the income statement for Myers, Inc.
Additional information: 1. Common stock outstanding January 1, 2017, was 32,000 shares, and 40,000 shares were outstanding at December 31, 2017.
2. The market price of Myers stock was $14 in 2017.
3. Cash dividends of $21,000 were paid, $5,000 of which were to preferred stockholders.
Instructions Compute the following measures for 2017.
(a) Earnings per share.
(b) Price-earnings ratio.
(c) Payout ratio.
(d) Times interest earned.