Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Grouper Inc. has the following selected financial data: 2017 2016 Net income $734,000 $686,000 Total assets 5,133,000 4,512,000 Preferred shares, 5%, cumulative 615,000 615,000 Common

Grouper Inc. has the following selected financial data:

2017 2016
Net income $734,000 $686,000
Total assets 5,133,000 4,512,000
Preferred shares, 5%, cumulative 615,000 615,000
Common shares 343,000 343,000
Retained earnings 2,795,000 2,192,000
Accumulated other comprehensive income 142,000 128,700
Total shareholders equity 3,895,000 3,278,700
Cash dividends paid in the year 131,000 175,000
Market price of common shares $95.23 $64.02
Weighted average number of common shares 71,000 71,000

There were no preferred dividends in arrears.

Calculate the following ratios for 2017.

Rate of Return on Common Shareholder's Equity ______%

Payout Ratio _____%

Price Earnings Ratio _____ times

Book Value $_____

Rate of Return on Assets ________%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions