Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Rebert Inc. showed the following balances for last year: January 1 December 31 Stockholders' equity: $ 4,000,000 Preferred stock, $100 par, 8% Common stock, $3

image text in transcribed

Rebert Inc. showed the following balances for last year: January 1 December 31 Stockholders' equity: $ 4,000,000 Preferred stock, $100 par, 8% Common stock, $3 par 3,000,000 $4,000,000 3,000,000 4,800,000 Additional paid-in capital 4,800,000 Retained earnings 4,000,000 4,250,000 Total stockholders' equity $15,800,000 $16,050,000 * For common stock only. Rebert's net income for last year was $3,932,000. Also, assume that the dividends paid to common stockholders for last year were $2,800,000 and that the market price per share of common stock is 556.50 Required: 1. Compute the dividends per share. Round to two decimal places Der share 2. Compute the dividend yield. Round to the nearest whole percent 3. Compute the dividend payout ratio. Round to two decimal places

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Fundamental Accounting Principles

Authors: Larson Kermit, Tilly Jensen

Volume I, 14th Canadian Edition

71051503, 978-1259066511, 1259066517, 978-0071051507

Students also viewed these Accounting questions