Need help finding payout ratio, EPS, and return on common stockholders' equity
![X] Your answer is incorrect. Try again. Calculate the payout ratio, earnings per share, and return on common stockholders eq](http://img.homeworklib.com/questions/e3ff1ed0-7013-11ea-8591-81901310fcbf.png?x-oss-process=image/resize,w_560)
Homework Answers
Your answers for Payout and Return are correct just enter results in two decimal places.
Look at the below solution for EPS.
.
Answer:
Payout ratio = Dividend / Net Income
= 174,300 / 392,000
= 44.46%
.
Earnings Per Share = (Net Income - Preferred Dividend) / Average number of shares
= ( 392,000 - 29,400 ) / 342,300
= 1.06
.
Working Note:
Average number of shares = (opening common stock + closing common stock) / 2
= [ ((1,400,000 / 4) - 7,000 ) + (350,000 - 8,400) ] / 2
= $342,300
.
Return on common stockholder's equity = (Net Income - Preferred dividend) / Average equity
= ( 392,000 - 29,400 ) / 3,089,450
= 11.74%
.
Working Note:
Average equity = (Opening equity + Closing equity) / 2
= [ (1,400,000 + 672,000 + 963,200 - 56,000 ) + ( 1,428,000 + 686,000 + 1,151,500 - 65,800) ] / 2
= 3,089,450
.
*** End ***
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