Market Price and Dividend Ratios Exhibit 12-19 contains slightly modified income statements and balance sheets of Minnesota Mining and Manufacturing Company (3M), a leader in bringing new technology-based products to the market. In 2002, 3M paid cash dividends of $2.48 per share, the market price was $123.30 per share and EPS was $5.06. 1. Compute the following ratios for 2002:

(a) P-E,

(b) dividend-yield,

(c) dividend-payout, and

(d) market-to-book value. 2. Assess 3M's market price and dividend ratios compared with the following industry averages from Reuters MultexInvestor. Price-earnings Dividend yield Dividend-payout Market-to-book value