Net salesCost of goods soldGross profitExpenses (including $11,700 interest and $29,700 income taxes)Net incomeAdditional information:1.METLOCK, INC.Income StatementFor the Year Ended December 31, 20222.3.$449,500211,500238,00078,800$ 159,200Common stock outstanding January 1, 2022, was 22,400 shares, and 37,300 shares were outstanding at December 31, 2022.(Use a simple average for weighted-average.)The market price of Metlock stock was $13 on December 31, 2022.Cash dividends of $22,600 were declared and paid. Compute the following measures for 2022. (Round earnings per share to 2 decimal places, e.g. 1.83 and all answers to 1 decimal places, e.g.1.8 or 2.5%)(a)(b)(c)Earnings per sharePrice-earnings ratioPayout ratio(d) Times interest earned$times%times

Accounting ratios are the set of financial ratios which shows the efficiency, activity and…

Compute the following measures for 2022. (Round earnings per share to 2 decimal places, e.g. 1.83 and all answers to 1 decimal places, e.g. 1.8 or 2.5%) (a) (b) (c) Earnings per share Price-earnings ratio Payout ratio (d) Times interest earned $ I times % times

Compute the following measures for 2022. (Round earnings per share to 2 decimal places, e.g. 1.83 and all answers to 1 decimal places, e.g. 1.8 or 2.5%) (a) (b) (c) Earnings per share Price-earnings ratio Payout ratio (d) Times interest earned $ I times % times

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter2: Financial Statements And The Annual Report

Section: Chapter Questions

Problem 2.8E: Income Statement Ratio The income statement of Holly Enterprises shows operating revenues of...

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Question

100%

Net sales
Cost of goods sold
Gross profit
Expenses (including $11,700 interest and $29,700 income taxes)
Net income
Additional information:
1.
METLOCK, INC.
Income Statement
For the Year Ended December 31, 2022
2.
3.
$449,500
211,500
238,000
78,800
$ 159,200
Common stock outstanding January 1, 2022, was 22,400 shares, and 37,300 shares were outstanding at December 31, 2022.
(Use a simple average for weighted-average.)
The market price of Metlock stock was $13 on December 31, 2022.
Cash dividends of $22,600 were declared and paid.

Compute the following measures for 2022. (Round earnings per share to 2 decimal places, e.g. 1.83 and all answers to 1 decimal places, e.g.
1.8 or 2.5%)
(a)
(b)
(c)
Earnings per share
Price-earnings ratio
Payout ratio
(d) Times interest earned
$
times
%
times

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