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Here is the income statement for Lily, Inc. Lily, Inc. Income Statement For the Year Ended December 31, 2022 Net sales Cost of goods sold Gross profit Expenses (including $10,000 interest and $21,500 income taxes) Net income Additional information: 2 3. $408.000 218,000 190,000 90,000 $ 100,000 Common stock outstanding January 1, 2022, was 21,000 shares, and 25,000 shares were outstanding at December 31, 2022. (Use a simple average for weighted average) The market price of Lily stock was $28 on December 31, 2022 Cash dividends of $29,680 were declared and paid. Compute the following measures for 2022. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all other answers to 1 decimal place. eg. 6.8 or 6.8%)

Here is the income statement for Lily, Inc. Lily, Inc. Income Statement For the Year Ended December 31, 2022 Net sales Cost of goods sold Gross profit Expenses (including $10,000 interest and $21,500 income taxes) Net income Additional information: 2 3. $408.000 218,000 190,000 90,000 $ 100,000 Common stock outstanding January 1, 2022, was 21,000 shares, and 25,000 shares were outstanding at December 31, 2022. (Use a simple average for weighted average) The market price of Lily stock was $28 on December 31, 2022 Cash dividends of $29,680 were declared and paid. Compute the following measures for 2022. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all other answers to 1 decimal place. eg. 6.8 or 6.8%)

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 22BEA: The income statement, statement of retained earnings, and balance sheet for Somerville Company are...
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Compute the following measures for 2022. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all other answers to 1 decimal place, eg. 6.8 or 6.8%) (a) Earnings per share (b) (c) Price-earnings ratio Payout ratio (d) Times interest earned times % times
Transcribed Image Text:Compute the following measures for 2022. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all other answers to 1 decimal place, eg. 6.8 or 6.8%) (a) Earnings per share (b) (c) Price-earnings ratio Payout ratio (d) Times interest earned times % times
Here is the income statement for Lily, Inc. Net sales Cost of goods sold Gross profit 4 Expenses (including $10,000 interest and $21,500 income taxes) Net income Additional information: P Lily, Inc. Income Statement For the Year Ended December 31, 2022 2 3. $408.000 218,000 190,000 90,000 $ 100,000 Common stock outstanding January 1, 2022, was 21,000 shares, and 25,000 shares were outstanding at December 31, 2022. (Use a simple average for weighted average.) The market price of Lily stock was $28 on December 31, 2022 Cash dividends of $29,680 were declared and paid. Compute the following measures for 2022. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all other answers to 1 decimal place, eg. 6.8 or 6.8%)
Transcribed Image Text:Here is the income statement for Lily, Inc. Net sales Cost of goods sold Gross profit 4 Expenses (including $10,000 interest and $21,500 income taxes) Net income Additional information: P Lily, Inc. Income Statement For the Year Ended December 31, 2022 2 3. $408.000 218,000 190,000 90,000 $ 100,000 Common stock outstanding January 1, 2022, was 21,000 shares, and 25,000 shares were outstanding at December 31, 2022. (Use a simple average for weighted average.) The market price of Lily stock was $28 on December 31, 2022 Cash dividends of $29,680 were declared and paid. Compute the following measures for 2022. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all other answers to 1 decimal place, eg. 6.8 or 6.8%)
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