Financial information for Forever 18 includes the following selected data (in millions): ($ in millions) 2018 2017 Net income $243 $252 Dividends on preferred stock $30 $25 Average shares outstanding (in millions) $300 $350 Stock price $11.77 $10.72 Calculate the price-earnings ratio in 2017 and 2018. Farrell Company has provided the following data: Common stock: Market value, December 31 Shares outstanding Book value, December 31 30,000 $165,000 $90,000 Dividends paid $50,000 Preferred stock, 10%, $100 par $100,000 Net income $150,000 Interest on long-term debt The price-earnings ratio is: $15,000
Financial information for Forever 18 includes the following selected data (in millions): ($ in millions) 2018 2017 Net income $243 $252 Dividends on preferred stock $30 $25 Average shares outstanding (in millions) $300 $350 Stock price $11.77 $10.72 Calculate the price-earnings ratio in 2017 and 2018. Farrell Company has provided the following data: Common stock: Market value, December 31 Shares outstanding Book value, December 31 30,000 $165,000 $90,000 Dividends paid $50,000 Preferred stock, 10%, $100 par $100,000 Net income $150,000 Interest on long-term debt The price-earnings ratio is: $15,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 19E: Lyon Company shows the following condensed income statement information for the year ended December...
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