Exercise 10-79 Ratio Analysis MJO Inc. has the following stockholders' equity section of the balance sheet:...
Exercise 10-79
Ratio Analysis
MJO Inc. has the following stockholders' equity section of the balance sheet:
| MJO Inc. | ||||
| Balance Sheet (Partial) | ||||
| Stockholders’equity: | ||||
| Preferred stock, 100,000 shares authorized; 30,000 issued and outstanding | $300,000 | |||
| Common stock, 1,000,000 shares authorized; 600,000 issued; 550,000 outstanding | 1,200,000 | |||
| Additional paid-in capital: | ||||
| Preferred stock | $90,000 | |||
| Common stock | 4,800,000 | 4,890,000 | ||
| Total capital stock | $6,390,000 | |||
| Retained earnings | 450,000 | |||
| Accumulated other comprehensive income | 22,000 | |||
| Less: Treasury stock, at cost | (800,000) | |||
| Total stockholders’ equity | $6,062,000 | |||
On the balance sheet date, MJO's stock was selling for $25 per share.
Required:
1. Assuming MJO's dividend yield is 1%, what are the dividends per common share? If required, round your answer to the nearest cent.
Dividends per Common Share $
2. Assuming MJO's dividend yield is 1% and its dividend payout is 20%, what is MJO's net income?
Net Income $
Homework Answers
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Exercise 10-79
Ratio Analysis
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