Reference no: EM132643794
David's Magic Stores has an operating profit of $220,000. Interest expense for the year was $27,000; preferred dividends paid were $28,500; and common dividends paid were $44,000. The tax was $51,400.
David's Magic Stores has 24,000 shares of common stock outstanding.
a. Calculate the EPS and the common dividends per share for David's Magic Stores. (Round the final answers to 2 decimal places.)
EPS$ Common dividends per share$
b. What is the payout ratio? (Do not round intermediate calculations. Round the final answer to 2 decimal places.)
Payout ratio %
c. What was the increase in retained earnings for the year?
Increase in retained earnings $
d. If David's share price is $74.00 what is its price-earnings ratio (P/E)? (Do not round intermediate calculations. Round the final answer to 2 decimal places.)
Price earning ratio times
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