Here is the income statement for Bachus, Inc.
| BACHUS, INC. | |
| Sales | $400,000 |
| Cost of goods sold | 230,000 |
| Gross profit | 170,000 |
| Expenses (including $16,000 interest and $24,000 income taxes) | 98,000 |
| Net income | $ 72,000 |
Additional information:
1. Common stock outstanding January 1, 2012, was 32,000 shares, and 40,000 shares were outstanding at December 31, 2012.
2. The market price of Bachus, Inc., stock was $14 in 2012.
3. Cash dividends of $21,000 were paid, $5,000 of which were to preferred stockholders.
Instructions
Compute the following measures for 2012.
(a) Earnings per share. (c) Payout ratio.
(b) Price-earnings ratio. (d) Times interest earned ratio.
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