(Answered) Question - the income statement for sutherland inc appears

Accounting

Question - The income statement for Sutherland, Inc., appears below.

SUTHERLAND, INC. Income Statement For the Year Ended December 31. 2017
Net sales	$408,000
Cost of goods sold	218,000
Gross profit	190,000
Expenses (including 512,500 interest and $21,500 income taxes)	84,000
Net income	$106,000

Additional information:

1. The weighted-average common shares outstanding in 2017 were 25,000 shares.

2. The market price of Sutherland, Inc. stock was $10 in 2017.

3. Cash dividends of $30,000 were paid, $6,000 of which were to preferred stockholders.

Compute the following ratios for 2017.

(a) Earnings per share

(b) Price-earnings ratio times

(d) Times interest earned

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