Exercise 13-11 Your answer is partially correct. Try again. Here is the income statement for Kingbird, Inc. KINGBIRD, INC. Income Statement For the Year Ended December 31, 2022 Sales revenue $400,000 Cost of goods sold 200,000 Gross profit 200,000 Expenses (including $10,000 interest and $20,000 income taxes) 70,000 Net income $130,000 Additional information: 1. Common stock outstanding January 1, 2022, was 20,000 shares, and 35,000 shares were outstanding at December 31, 2022. 2. The market price of Kingbird stock was $12 in 2022. 3. Cash dividends of $19,000 were paid, $3,000 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 3.63 (b) Price-earnings ratio 3.31 times (c) Payout ratio 12.6 % (d) Times interest earned 16 times Click if you would like to Show Work for this question: Open Show Work