Homework Answers
| Number of common shares | 72625 | |
| EBIT | 270,000 | |
| Less: Interest | 90,000 | |
| Income before tax | 180,000 | |
| Less: Tax | 26,450 | |
| Net Income | 153,550 | |
| Dividend paid on Preferred Stock | 8,300 | |
| Earnings available for Common shareholders | 145,250 | |
| Dividend paid on common stock | 46,480 | |
| Retained earnings | 98,770 | |
| a.Times interest earned = EBIT/Interest | 3 | times |
| b.Preferred Dividend times = Net Income/Preferred Dividend | 18.5 | times |
| c.EPS = Earnings available for Common Shares/Number of shares | 2 | |
| d.P/E Ratio = Price per share/Earnings per share | 8 | times |
| e.Dividend per share = Dividend/Number of shares | 0.64 | |
| f.Dividend yield = Dividend per share/Price per share | 4.00% |
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