Net Income = Additions to retained earnings + Dividends paid
Net Income = $1,650,000 + $550,000
Net Income = $2,200,000
Net Income per share = $2,200,000/505,000 = $4.36 per share
P/E Ratio = 15.2
P/E ratio = Price per share/Earnings per share
15.2 = Price per share/$4.36
Price per share = $66.22/share
Flex Co. just paid total dividends of $550,000 and reported additions to retained earnings of $1,650,000....
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