Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer ALL The financial statements for Castile Products. Inc., are given below: Account balances at the beginning of the year were: accounts receivable. $230,000;

Please answer ALL

image text in transcribed

The financial statements for Castile Products. Inc., are given below: Account balances at the beginning of the year were: accounts receivable. $230,000; and inventory, $270,000. All sales were on account. Assume that Castile Products. Inc., paid dividends of $2.15 per share during the year. Also assume that the company's common stock had a market price of $56 at the end of the year and there was no change in the number of outstanding shares of common stock during the year. Compute financial ratios as follows: Earnings per share. (Round your answer to 2 decimal places.) Dividend payout ratio. (Round your intermediate calculations to 2 decimal places. Round your final percentage answer to 1 decimal place (i.e., 0.1234 should be considered as 12.3%).) Dividend yield ratio. (Round your percentage answer to 1 decimal place (i.e., 0.1234 should be considered as 12.3%).) Price-earnings ratio. (Round your intermediate calculations to 2 decimal places and final answer to 1 decimal place.) Book value per share. (Round your 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

Step: 3

blur-text-image

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

Auditing Electronics Data Processing Systems

Authors: WATNE

1st Edition

0130516163, 978-0130516169

More Books

Students also viewed these Accounting questions

Question

Describe a persuasive message.

Answered: 1 week ago

Question

Identify and use the five steps for conducting research.

Answered: 1 week ago

Question

List the goals of a persuasive message.

Answered: 1 week ago