Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Phelps, Inc. had assets of $87,938, liabilities of $19,174, and 13,190 shares of outstanding common stock at December 31, 2015. Net income for 2015 was

image text in transcribed

Phelps, Inc. had assets of $87,938, liabilities of $19,174, and 13,190 shares of outstanding common stock at December 31, 2015. Net income for 2015 was $9,761. The company had assets of $103,319, liabilities of $23,003, 11,527 shares of outstanding, and its stock was trading at a price of $10 per share at December 31, 2016. Net income for 2016 was $10,719. Required: Calculate EPS for 2016. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Calculate ROE for 2016. (Round your answer to 1 decimal place.) Calculate the Price/Earnings Ratio for 2016. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

The Brand Management Audit

Authors: Mr Don Knight

1st Edition

0273649345, 978-0273649342

More Books

Students also viewed these Accounting questions