Compute selected ratios. E14.11 (LO 3), AP Here is the income statement for Myers, Inc Myers, Inc. Income Statement For the Year Ended December 31, 2020 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 Additional information: 1. Common stock outstanding January 1,2020, was 32.000 shares, and 40,000 shares were outstand- ing at December 31, 2020 2. The market price of Myers stock was $14 in 2020. 3. Cash dividends of $21,000 were paid, $5,000 of which were to preferred stockholders. Instructions Compute the following measures for 2020 a. Earnings per share. b. Price-earnings ratio. c. Payout ratio. d. Times interest earned