Exercise 13-11 Your answer is partially correct. Try again. Here is the income statement for Larkspur, Inc. LARKSPUR, INC. Income Statement For the Year Ended December 31, 2022 Sales revenue Cost of goods sold Gross profit Expenses (including $14,800 interest and $21,600 income taxes) $449,500 218,400 231,100 77,600 $ 153,500 Net income Additional information: 1. Common stock outstanding January 1, 2022, was 20,900 shares, and 36,200 shares were outstanding at December 31, 2022. 2. The market price of Larkspur stock was $12 in 2022. 3. Cash dividends of $23,600 were paid, $4,800 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 5.23 (b) Price-earnings ratio 2.29 times (c) Payout ratio 15.37% N (d) Times interest earned Ted T 15.61 times