Question
Swifty Inc. has the following selected financial data: 2023 2022 Net income $715,000 $681,000 Total assets 5,143,000 4,544,000 Preferred shares, 4%, cumulative 603,000 603,000 Common
Swifty Inc. has the following selected financial data:
2023 | 2022 | |||
---|---|---|---|---|
Net income | $715,000 | $681,000 | ||
Total assets | 5,143,000 | 4,544,000 | ||
Preferred shares, 4%, cumulative | 603,000 | 603,000 | ||
Common shares | 365,000 | 365,000 | ||
Retained earnings | 2,793,000 | 2,207,000 | ||
Accumulated other comprehensive income | 159,000 | 144,300 | ||
Total shareholders equity | 3,920,000 | 3,319,300 | ||
Cash dividends paid in the year | 129,000 | 171,400 | ||
Market price of common shares | $98.54 | $62.21 | ||
Weighted average number of common shares | 79,000 | 79,000 |
There were no preferred dividends in arrears.
(a)
Calculate the following ratios for 2023: (Round your answers to 2 decimal places, e.g. 52.75 or 52.75%.)
(1) | Rate of return on common shareholders equity | enter percentages rounded to 2 decimal places | % | ||
---|---|---|---|---|---|
(2) | Payout ratio | enter percentages rounded to 2 decimal places | % | ||
(3) | Price earnings ratio | enter a number of times rounded to 2 decimal places | times | ||
(4) | Book value | $enter a dollar amount rounded to 2 decimal places |
| ||
(5) | Rate of return on total assets | enter percentages rounded to 2 decimal places | % |
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