Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please answer ALL PARTS of the above question and CLEARLY indicate (with highlights or boldface, boxes, etc.) what each answer is. Thank you. value: 8.00
Please answer ALL PARTS of the above question and CLEARLY indicate (with highlights or boldface, boxes, etc.) what each answer is. Thank you.
value: 8.00 points Phelps, Inc. had assets of $74,410, liabilities of $16,702, and 11,542 shares of outstanding common stock at December 31, 2015. Net income for 2015 was $8,541. The company had assets of $87,487, liabilities of $20,035, 11,023 shares of outstanding, and its stock was trading at a price of $10 per share at December 31, 2016. Net income for 2016 was $10,235. Required: a. Calculate EPS for 2016. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) EPS b. Calculate ROE for 2016. (Round your answer to 1 decimal place.) ROE c. Calculate the Price/Earnings Ratio for 2016. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Price/Earnings RatioStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started