Taylor & Co. had earnings per share of

$3.50

, and it paid a

$0.90

dividend. Total retained earnings increased by

$5,200,000

during the year, while book value per share at the end of the year was

$32

. Taylor has no preferred stock, and no new common stock was issued during the year. If Taylor's year-end debt (liabilities) was

$60

million, what was the company's debt/assets ratio? (hint: Use the R/E increase to calculate the number of shares, then used the book value per share to calculate total common equity. Remember total assets equals total

L+E

) (a. 0.4839)\

A=L+E

\ a. 0.4839\ bomil\ b. 0.2914\ c. 0.3191\ d. 0.2875\ e. 0.2982

3. Taylor \& Co. had earnings per sharo of $3.50, and it paid a $0.90 dividend. Total retained earnings increased by $5,200,000 during the year, while book value per share at the end of the year was $32. Taylor has no preferred stock, and no new common stock was issued during the year. If Taylor's year-end debt (liabilities) was $60 million, what was the company's debt/assets ratio? (hint: Use the R/E increase to calculate the number of shares, then used the book value per share to calculate total common equity. Remember total assets equals total (a. 0.4839 ) A=L+E a. 0.4839 60mil b. 0.2914 c. 0.3191 d. 0.2875 e. 0.2982