SKYSONG, INC. Income Statement For the Year Ended December 31, 2020 Sales revenue $438,400Cost of goods sold 217,900Gross profit 220,500 Expenses (including $14,000 interest and $25,200 income taxes) 89,500Net income 131,000Additional Information:1. Common stock outstanding January 1, 2020, was 26,700 shares, and 36,500 shares were outstanding at December 31, 2020. 2. The market price of Skysong stock was $15 in 2020. 3. Cash dividends of $21,300 were paid, $5,500 of which were to preferred stockholders. Required:Compute the following measures for 2020a. Earnings per share b. Price-earnings ratio c. Payout ratio d. Times interest earned

Precision dyes is analyzing two machines to determine which one it should purchase. the company requires a rate of return of 15 percent and uses straight-line depreciation to a zero book value over the life of its equipment. ignore bonus depreciation. machine a has a cost of $462,000, annual aftertax cash outflows of $46,200, and a four-year life. machine b costs $898,000, has annual aftertax cash outflows of $16,500, and has a seven-year life. whichever machine is purchased will be replaced at the end of its useful life. which machine should the company purchase and how much less is that machine's eac as compared to the other machine's

Agovernment receives a gift of cash and investments with a fair value of $200,000. the donor specified that the earnings from the gift must be used to beautify city-owned parks and the principal must be re-invested. the $200,000 gift should be accounted for in which of the following funds? a) general fund b) private-purpose trust fund c) agency fund d) permanent fund

Sailcloth & more currently produces boat sails and is considering expanding its operations to include awnings for homes and travel trailers. the company owns land beside its current manufacturing facility that could be used for the expansion. the company bought this land 5 years ago at a cost of $319,000. at the time of purchase, the company paid $24,000 to level out the land so it would be suitable for future use. today, the land is valued at $295,000. the company has some unused equipment that it currently owns valued at $38,000. this equipment could be used for producing awnings if $12,000 is spent for equipment modifications. other equipment costing $490,000 will also be required. what is the amount of the initial cash flow for this expansion project?