AE14 9
Incorrect.
The income statement for Christensen, Inc., appears below.
CHRISTENSEN, INC.
Income Statement
For the Year Ended December 31, 2011
Sales $399,400
Cost of goods sold 225,500
Gross profit 173,900
Expenses (including $14,000 interest and $22,720 income taxes) 100,900
Net income $73,000
Additional information:
The weighted average common shares outstanding in 2011 were 32,000 shares.
The market price of Christensen, Inc. stock was $15 in 2011.
Cash dividends of $28,000 were paid, $4,770 of which were to preferred stockholders.
Compute the following ratios for 2011.
(a) Earnings per share. (Round answer to 2 decimal places, e.g. 10.50 and use the rounded the amount for future calculations.)
(b) Price earnings. (Round answer to 1 decimal place, e.g. 10.5.)
(c) Payout. (Round answer to 0 decimal places, e.g. 25%.)
(d) Times interest earned. (Round answer to 1 decimal place, e.g. 10.5.)
(a) Earnings per share $
(b) Price earnings times
(c) Payout %
(d) Times interest earned times
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