Business, 26.02.2020 22:53 Weser17

The income statement for the Carolina Service Company for the year ended December 31, 2017, appears below. Sales revenue $670,000 Cost of goods sold 390,000 Gross profit 280,000 Expenses 180,000 * Net income $100,000 *Includes $25,000 of interest expense and $20,000 of income tax expense. Additional information: 1. Common stock outstanding on January 1, 2017, was 50,000 shares. On July 1, 2017, 10,000 more shares were issued. 2. The market price of Carolina's stock was $22 at the end of 2017. 3. Cash dividends of $35,000 were paid, $5,000 of which were paid to preferred stockholders. Compute the following ratios for 2017: (Round earnings per share to 2 decimal places, e. g. 2.25 and all other answers to 1 decimal place e. g. 15.5.) (a) Earnings per share $ (b) Price-earnings times (c) Times interest earned times

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The income statement for the Carolina Service Company for the year ended December 31, 2017, appears...