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What was the increase in retained earnings for the year

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David's Magic Stores has an operating profit of $210,000. Interest expense for the year was $30,000; preferred dividends paid were $24,700; and common dividends paid were $36,000. The tax was $59,300. David's Magic Stores has 16,000 shares of common stock outstanding.

Question a. Calculate the EPS and the common dividends per share for David's Magic Stores. (Round the final answers to 2 decimal places.)

Question b. What is the payout ratio? (Do not round intermediate calculations. Round the final answer to 2 decimal places.)

Question c. What was the increase in retained earnings for the year?

Question d. If David's share price is $90.00 what is its price-earnings ratio (P/E)?

Reference no: EM132522560

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