Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The financial statements for Castile Products, Incorporated, are given below: Account balances at the beginning of the year were: accounts receivable, $190,000; and inventory, $340,000.
The financial statements for Castile Products, Incorporated, are given below: Account balances at the beginning of the year were: accounts receivable, $190,000; and inventory, $340,000. All sales were on account. Assume that Castile Products, Incorporated paid dividends of $2.35 per share during the year. Also assume that the company's common stock had a market price of $64 at the end of the year and there was no change in the number of outstanding shares of common stock during the year. Requlred: Compute financial ratios as follows: 1. Earnings per share. (Round your onswer to 2 decimal ploces.) 2 Dividend payout ratio. (Round your Intermedlete calculatlons to 2 declmal places. Round your percentage flnol answer to 2 decimal places.) 3. Dividend yield ratio. (Round your percentege onswer to 2 declmal places.) 4. Price-earnings ratio. (Round your Intermedlete calculatlons and final answer to 2 declmal pleces.) 5. Book value per share. (Round your answer to 2 declmal places.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started