Question

Here is the income statement for Metlock, Inc. METLOCK, INC. Income Statement For the Year Ended...

Here is the income statement for Metlock, Inc.

METLOCK, INC.
Income Statement
For the Year Ended December 31, 2022

Sales revenue

$446,200

Cost of goods sold

211,400

Gross profit

234,800

Expenses (including $16,400 interest and $28,500 income taxes)

76,100

Net income

$ 158,700


Additional information:

1. Common stock outstanding January 1, 2022, was 29,400 shares, and 36,500 shares were outstanding at December 31, 2022.
2. The market price of Metlock stock was $13 in 2022.
3. Cash dividends of $24,300 were paid, $4,400 of which were to preferred stockholders.


Compute the following measures for 2022. (Round all answers to 2 decimal places, e.g. 1.83 or 2.51%)

(a) Earnings per share

  
(b) Price-earnings ratio times
(c) Payout ratio %
(d) Times interest earned times
Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Hit the LIKE Button.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Here is the income statement for Tamarisk, Inc. TAMARISK, INC. Income Statement For the Year Ended...
Here is the income statement for Tamarisk, Inc. TAMARISK, INC. Income Statement For the Year Ended December 31, 2017 Sales revenue $414,600 Cost of goods sold 232,500 Gross profit 182,100 Expenses (including $16,700 interest and $27,200 income taxes) 84,100 Net income $ 98,000 Additional information: 1. Common stock outstanding January 1, 2017, was 21,800 shares, and 38,100 shares were outstanding at December 31, 2017. 2. The market price of Tamarisk stock was $13 in 2017. 3. Cash dividends of $24,000...
Here is the income statement for Sarasota, Inc. SARASOTA, INC. Income Statement For the Year Ended...
Here is the income statement for Sarasota, Inc. SARASOTA, INC. Income Statement For the Year Ended December 31, 2022 Sales revenue $455,000 Cost of goods sold 210,000 Gross profit 245,000 Expenses (including $11,400 interest and $20,000 income taxes) 106,000 Net income $139,000 Additional information: 1. Common stock outstanding January 1, 2022, was 32,500 shares, and 51,800 shares were outstanding at December 31, 2022. 2. The market price of Gillman, Inc., stock was $15 in 2022. 3. Cash dividends of $14,500...
Here is the income statement for Myers, Inc. Myers, Inc. Income Statement For the Year Ended...
Here is the income statement for Myers, Inc. Myers, Inc. Income Statement For the Year Ended December 31, 2020 Sales revenue $434,000 Cost of goods sold 222,000 Gross profit 212,000 Expenses (including $10,000 interest and $20,500 income taxes) 82,000 Net income $ 130,000 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 $13.75 in 2020. 3. Cash dividends of $27,300...
Here is the income statement for Myers, Inc. Myers, Inc. Income Statement For the Year Ended...
Here is the income statement for Myers, Inc. Myers, Inc. Income Statement For the Year Ended December 31, 2020 Sales revenue $420,000 Cost of goods sold 224,000 Gross profit 196,000 Expenses (including $10,000 interest and $21,500 income taxes) 106,000 Net income $ 90,000 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 $18.26 in 2020. 3. Cash dividends of $21,600...
The income statement for Sutherland, Inc., appears below. SUTHERLAND, INC. Income Statement For the Year Ended...
The income statement for Sutherland, Inc., appears below. SUTHERLAND, INC. Income Statement For the Year Ended December 31, 2017 Net sales $400,000 Cost of goods sold 180,000 Gross profit 220,000 Expenses (including $10,000 interest and $20,000 income taxes) 80,000 Net income $ 140,000 Additional information: 1. The weighted-average common shares outstanding in 2017 were 20,000 shares. 2. The market price of Sutherland, Inc. stock was $10 in 2017. 3. Cash dividends of $20,000 were paid, $3,000 of which were to...
Ringmeup, Inc., had net income of $176,900 for the year ended December 31, 2016. At the...
Ringmeup, Inc., had net income of $176,900 for the year ended December 31, 2016. At the beginning of the year, 39,000 shares of common stock were outstanding. On May 1, an additional 16,000 shares were issued. On December 1, the company purchased 4,500 shares of its own common stock and held them as treasury stock until the end of the year. No other changes in common shares outstanding occurred during the year. During the year, Ringmeup, Inc., paid the annual...
Ringmeup Inc. had net income of $162,200 for the year ended December 31, 2019. At the...
Ringmeup Inc. had net income of $162,200 for the year ended December 31, 2019. At the beginning of the year, 38,000 shares of common stock were outstanding. On May 1, an additional 17,000 shares were issued. On December 1, the company purchased 4,300 shares of its own common stock and held them as treasury stock until the end of the year. No other changes in common shares outstanding occurred during the year. During the year, Ringmeup paid the annual dividend...
Ringmeup Inc. had net income of $101,800 for the year ended December 31, 2019. At the...
Ringmeup Inc. had net income of $101,800 for the year ended December 31, 2019. At the beginning of the year, 44,000 shares of common stock were outstanding. On May 1, an additional 11,000 shares were issued. On December 1, the company purchased 4,100 shares of its own common stock and held them as treasury stock until the end of the year. No other changes in common shares outstanding occurred during the year. During the year, Ringmeup paid the annual dividend...
Ringmeup Inc. had net income of $142,100 for the year ended December 31, 2019. At the...
Ringmeup Inc. had net income of $142,100 for the year ended December 31, 2019. At the beginning of the year, 36,000 shares of common stock were outstanding. On May 1, an additional 17,000 shares were issued. On December 1, the company purchased 4,900 shares of its own common stock and held them as treasury stock until the end of the year. No other changes in common shares outstanding occurred during the year. During the year, Ringmeup paid the annual dividend...
Ringmeup Inc. had net income of $123,100 for the year ended December 31, 2019. At the...
Ringmeup Inc. had net income of $123,100 for the year ended December 31, 2019. At the beginning of the year, 43,000 shares of common stock were outstanding. On May 1, an additional 18,000 shares were issued. On December 1, the company purchased 4,200 shares of its own common stock and held them as treasury stock until the end of the year. No other changes in common shares outstanding occurred during the year. During the year, Ringmeup paid the annual dividend...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT