Exercise 14-11 Your answer is partially correct. Try again. 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 $10,000 interest and $20,500 income taxes) Net income $434,000 222,000 212,000 82,000 $ 130,000 Additional information: 1. 2. 3. Common stock outstanding January 1, 2020, was 16,000 shares, and 24,000 shares were outstanding at December 31, 2020. The market price of Myers stock was $13.75 in 2020. Cash dividends of $27,300 were paid, $5,000 of which were to preferred stockholders. Compute the following measures for 2020. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%.) (a) Earnings per share (b) Price-earnings ratio 2.2 times (c) Payout ratio (d) Times interest earned 16.1 times