Exercise 18-9 Your answer is partially correct. Try again. The income statement for Sutherland, Inc., appears below. SUTHERLAND, INC. Income Statement For the Year Ended December 31, 2017 Net sales $414,000 Cost of goods sold 218,000 Gross profit 196,000 Expenses (including $16,500 interest and $27,000 income taxes) 108,000 Net income $ 88,000 Additional information: 1. 2. 3. The weighted average common shares outstanding in 2017 were 34,000 shares. The market price of Sutherland, Inc. stock was $11 in 2017. Cash dividends of $22,000 were paid, $4,200 of which were to preferred stockholders. Compute the following ratios for 2017. (Round Earnings per share to 2 decimal places, e.g. 1.75, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%.) Earnings per share 2.46 Price-earnings ratio 4.47 times X Payout ratio 20% Times interest earned 7.96 times Click you would like to Show Work for this question: Open Show Work