Question
Presented here are summarized data from the balance sheets and income statements of Wiper Incorporated: WIPER INCORPORATED Condensed Balance Sheets December 31, 2023, 2022, 2021
Presented here are summarized data from the balance sheets and income statements of Wiper Incorporated:
WIPER INCORPORATED | |||
---|---|---|---|
Condensed Balance Sheets | |||
December 31, 2023, 2022, 2021 | |||
(in millions) | |||
2023 | 2022 | 2021 | |
Current assets | $ 734 | $ 959 | $ 813 |
Other assets | 2,421 | 1,928 | 1,727 |
Total assets | $ 3,155 | $ 2,887 | $ 2,540 |
Current liabilities | $ 585 | $ 838 | $ 731 |
Long-term liabilities | 1,555 | 1,015 | 883 |
Stockholders equity | 1,015 | 1,034 | 926 |
Total liabilities and stockholders' equity | $ 3,155 | $ 2,887 | $ 2,540 |
WIPER INCORPORATED | ||
---|---|---|
Selected Income Statement and Other Data | ||
For the Years Ended December 31, 2023 and 2022 | ||
(in millions) | ||
2023 | 2022 | |
Income statement data: | ||
Sales | $ 3,058 | $ 2,921 |
Operating income | 304 | 318 |
Interest expense | 92 | 73 |
Net income | 215 | 210 |
Other data: | ||
Average number of common shares outstanding | 42.1 | 47.5 |
Total dividends paid | $ 58.0 | $ 53.1 |
e. If Wiper's stock had a price/earnings ratio of 13 at the end of 2023, what was the market price of the stock?
f. Calculate the cash dividend per share for 2023 and the dividend yield based on the market price calculated in part e.
e. If Wiper's stock had a price/earnings ratio of 13 at the end of 2023, what was the market price of the stock? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. f. Calculate the cash dividend per share for 2023 and the dividend yield based on the market price calculated in part e. Note: Do not round intermediate calculations. Round your percentage answers to 2 decimal place (i.e., 0.1234 should be entered as 12.34.
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