Please correct me if Im wrong, but to calculate the wing loading of an airplane...is the following the correct method?

1. Divide the weight of the aircraft by the wing area
2. To get it to oz / inch, multiply your number by 144, as there are 144 square inches to a square foot
3. Multiply that number by 16, because there are 16 oz per pound?

this just doesnt sound right to me, but the numbers look right...as an example on an edge 540 with a 75" wingspan and a 26cc engine...

Weight-Lets say 10 lbs
Wing area-990.7 sq inches

10 / 990.7=.010093873

.010093873 x 144 = 1.453517712

1.453517712 x 16 = 23.25628339

Would this put the wing loading as 23.3 oz/sq inch? I seriously think I am overcomplicating this, but someone here should be able to tell me.

Thanks in advance!

TonyG