Question
Phelps, Inc. had assets of $94,702, liabilities of $20,410, and 14,014 shares of outstanding common stock at December 31, 2015. Net income for 2015 was
| Phelps, Inc. had assets of $94,702, liabilities of $20,410, and 14,014 shares of outstanding common stock at December 31, 2015. Net income for 2015 was $10,370. The company had assets of $111,235, liabilities of $24,487, 11,779 shares of outstanding, and its stock was trading at a price of $10 per share at December 31, 2016. Net income for 2016 was $10,961. |
| Required: | |
| a. | Calculate EPS for 2016. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) |
| b. | Calculate ROE for 2016. (Round your answer to 1 decimal place.) |
| c. | Calculate the Price/Earnings Ratio for 2016. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) |
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Auditing Principles And Practice
Authors: Kumar And Sharma
3rd Edition
8120350987, 9788120350984
