Question
Phelps, Inc., had assets of $131,904 and liabilities of $27,208 at the close of 2013 with 18,546 shares of outstanding common stock. Net income for
Phelps, Inc., had assets of $131,904 and liabilities of $27,208 at the close of 2013 with 18,546 shares of outstanding common stock. Net income for 2013 was $13,724. At the end of 2014, assets were $154,773, liabilities were $32,649, and the company had 13,165 shares of outstanding stock trading at a price of $10 per share. Net income for 2014 was $12,292
| a. | Calculate EPS for 2014. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) |
| b. | Calculate ROE for 2014. (Round your answer to 1 decimal place.) |
| c. | Calculate the Price/Earnings Ratio for 2014. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) |
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