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Exercise 14-11

Exercise 14-11 Your answer is partially correct.  Try again.  Here is the income statement for Myers, Inc.Myers, Inc. Income Statement For the Year Ended December 31, 2020 Sales revenue $436,000 Cost of goods sold 214,000 Gross profit 222,000 Expenses (including $10,000 interest and $29,500 income taxes)100,000Net income $ 122,000 Additional information:1.Common stock outstanding January 1, 2020, was 16,000 shares, and 24,000 shares were outstanding at December 31, 2020.2.The market price of Myers stock was $16.52 in 2020.3.Cash dividends of $24,400 were paid, $4,000 of which were to preferred stockholders.Compute the following measures for 2020. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%.)(a)Earnings per share$(b)Price-earnings ratio times(c)Payout ratio %(d)Times interest earned times


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