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The income statement for Pointe Company for the
year ended December 31, 2014 appears below.
of goods sold 380,000
*Includes $20,000 of
interest expense and $25,000 of income tax expense.
stock outstanding on January 1, 2014 was 50,000 shares. On July 1, 2014, 10,000
more shares were issued.
market price of Pointe’s stock was $11.70 at the end of 2014.
dividends of $30,000 were paid, $7,000 of which were paid to preferred
following ratios for 2014:
(a) Earnings per share.
(c) Times interest earned.