Sage Hill Inc. SAGE HILL INC. Income Statement For the Year Ended December 31, 2020 Sales revenue $435,400
Cost of goods sold 228,500
Gross profit 206,900
Expenses (including $11,300 interest and $22,500 income taxes) 70,900
Net income $136,000

Additional information:
1. Common stock outstanding January 1, 2020, was 26,600 shares, and 38,600 shares were outstanding at December 31, 2020.
2. The market price of Sage Hill stock was $14 in 2020.
3. Cash dividends of $23,400 were paid, $5,000 of which were to preferred stockholders.

Compute the following measures for 2020.

a. Earnings per share
b. Price-earnings ratio
c. Payout ratio
d. Times interest earned

Johnson company uses the allowance method to account for uncollectible accounts receivable. bad debt expense is established as a percentage of credit sales. for 2018, net credit sales totaled $6,400,000, and the estimated bad debt percentage is 1.40%. the allowance for uncollectible accounts had a credit balance of $61,000 at the beginning of 2018 and $49,500, after adjusting entries, at the end of 2018.required: 1. what is bad debt expense for 2018 as a percent of net credit sales? 2. assume johnson makes no other adjustment of bad debt expense during 2018. determine the amount of accounts receivable written off during 2018.3. if the company uses the direct write-off method, what would bad debt expense be for 2018?