Question
Modified problem 2.5 from page 55 of the textbook, which now reads: In year 2021, J.C. Olson & Co. had earnings per share of
Modified problem 2.5 from page 55 of the textbook, which now reads: "In year 2021, J.C. Olson & Co. had earnings per share of $9 and paid a $7 dividend per share. During the same period, the total retained earnings increased by $14.000.000. Olson has no preferred stock, and no new common stock was issued during the year. F the end of 2021, Olson's total Shareholder Equity was $560.000.000 and its total debt (which equals its total liabilities) was $240.000.000. (a) The number of common shares was 7000000 (b) The company's net income for 2021 was $ (c) The company's year-end debt-to-asset ratio was 3
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