Here is the income statement for Teal Mountain Inc.TEAL MOUNTAIN INC.Income StatementFor the Year Ended December 31, 2020Sales revenue $402,900Cost of goods sold 256,700Gross profit 146,200Expenses (including $10,200 interest and $29,600 income taxes) 89,200Net income $ 57,000Additional information:1. Common stock outstanding January 1, 2020, was 30,000 shares, and 39,000 shares were outstanding at December 31, 2020.2. The market price of Teal Mountain stock was $15 in 2020.3. Cash dividends of $24,700 were paid, $6,500 of which were to preferred stockholders.Compute the following measures for 2020. (Round all answers to 2 decimal places, e.g. 1.83 or 2.51%)(a) Earnings per share $enter a dollar amount (b) Price-earnings ratio enter Price-earnings ratio in times times(c) Payout ratio enter percentages %(d) Times interest earned enter Times interest earned times

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Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 19E: Lyon Company shows the following condensed income statement information for the year ended December...

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Here is the income statement for Teal Mountain Inc.

TEAL MOUNTAIN INC. Income Statement For the Year Ended December 31, 2020
Sales revenue		$402,900
Cost of goods sold		256,700
Gross profit		146,200
Expenses (including $10,200 interest and $29,600 income taxes)		89,200
Net income		$ 57,000

Additional information:

1.		Common stock outstanding January 1, 2020, was 30,000 shares, and 39,000 shares were outstanding at December 31, 2020.
2.		The market price of Teal Mountain stock was $15 in 2020.
3.		Cash dividends of $24,700 were paid, $6,500 of which were to preferred stockholders.

Compute the following measures for 2020. (Round all answers to 2 decimal places, e.g. 1.83 or 2.51%)

(a)	Earnings per share	$enter a dollar amount
(b)	Price-earnings ratio	enter Price-earnings ratio in times	times
(c)	Payout ratio	enter percentages	%
(d)	Times interest earned	enter Times interest earned	times

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