Question: Here is the income statement for Eberle, Inc. Additional information: 1. Common stock outstanding January 1, 2014, was 32,000 shares, and 40,000 shares were outstanding

Here is the income statement for Eberle, Inc.

Additional information:
1. Common stock outstanding January 1, 2014, was 32,000 shares, and 40,000 shares were outstanding at December 31, 2014.
2. The market price of Eberle, Inc., stock was $14 in 2014.
3. Cash dividends of $21,000 were paid, $5,000 of which were to preferred stockholders.

Instructions
Compute the following measures for 2014.
(a) Earnings per share.
(b) Price-earnings ratio.
(c) Payout ratio.
(d) Times interestearned.

EBERLE, INC. Income Statement For the Year Ended December 31, 2014 Sales revenue Cost of goods sold Gross profit Expenses (including $16.000 interest and $24.000 income taxes) Net income $400,000 230,000 170,000 98,000 72,000

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