Bartman Industries's and Reynolds Inc.'s stock prices and dividends, along with the Winslow 5000 Index, are shown here for the period 20152020. The Winslow 5000 data are adjusted to include dividends.

Bartman Industries		Reynolds Inc.		Winslow 5000
Year	Stock Price		Dividend		Stock Price		Dividend		Includes Dividends
2020	$16.90			$1.08			$50.00			$2.65			$11,831.82
2019	14.75			1.01			53.65			2.60			8,681.56
2018	16.35			0.95			50.00			2.45			8,575.92
2017	10.80			0.90			58.90			2.25			6,402.86
2016	11.37			0.85			62.25			2.05			5,506.34
2015	7.52			0.80			57.10			1.85			4,684.53

a. Use the data to calculate annual rates of return for Bartman, Reynolds, and the Winslow 5000 Index. Then calculate each entity's average return over the 5-year period. (Hint: Remember, returns are calculated by subtracting the beginning price from the ending price to get the capital gain or loss, adding the dividend to the capital gain or loss, and dividing the result by the beginning price. Assume that dividends are already included in the index. Also, you cannot calculate the rate of return for 2015 because you do not have 2014 data.) Round your answers to two decimal places.

Year	Bartman Industries		Reynolds Inc.		Winslow 5000
2020
2019
2018
2017
2016
Average

b. Calculate the standard deviations of the returns for Bartman, Reynolds, and the Winslow 5000. (Hint: Use the sample standard deviation formula, which corresponds to the STDEV.S function in Excel.) Round your answers to two decimal places.

	Bartman Industries		Reynolds Inc.		Winslow 5000
Standard deviation

c. Calculate the coefficients of variation for Bartman, Reynolds, and the Winslow 5000. Round your answers to two decimal places.

	Bartman Industries		Reynolds Inc.		Winslow 5000
Coefficient of variation

d. Assume the risk-free rate during this time was 2%. Calculate the Sharpe ratios for Bartman, Reynolds, and the Index over this period using their average returns. Round your answers to four decimal places.

	Bartman Industries		Reynolds Inc.		Winslow 5000
Sharpe ratio