E12-24A. (Learning Objective 4: Evaluating a share as an investment) Evaluate the ordinary share of Regal Distributing Company as an investment. Specifically, use the three ordinary share ratios to determine whether the ordinary share increased or decreased in attractiveness during the past year.

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Net income... Dividends to ordinary shares.... Total shareholders' equity at year-end... (includes 90,000 ord. shares) Preference shares, 5%. Market price per ordinary share at year-end........... 20X6 $ 84,000 20X5 $ 59,000 22,000 23,000 320,000 520,000 80,000 80,000 $ 24.50 $ 17.50