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The financial statements for Castle Products, Inc., are given below Castile Products, Inc. Balance Shee: Assets Current assets: Cash Accounts receivable, net Merchandise inventory Prepaid
The financial statements for Castle Products, Inc., are given below Castile Products, Inc. Balance Shee: Assets Current assets: Cash Accounts receivable, net Merchandise inventory Prepaid expenses S 20,000 180,000 340,000 7,000 Total current assets Property and equipment, net 547,000 870,000 Total assets 51,417,000 Liabilities and Stockholders Equity Current liabilities Bonds payable, 8% S 230,000 330,000 560,000 S 190,000 Total liabilities Common stock, $5 par value Retained eamings Total stockholders equity Total liabilities and equiy 67,000 857,000 51,417,000 Castile Products, Inc. Income Statement For the Year Ended December 31 Sales Cost of goods sold 52,300,000 1,240,000 Gross margin Selling and administrative expenses 1,060,000 10,000 Net operating income Interest expense 450,000 26,400 Net income before taxes Income taxes (30%) 423,600 27,080 Net income S 296,520 Account balances a he beginning of the year were: accounts receivable, 150,000; and inventory. 5350,000. Al sales were on account. Assume that Castile Products, Inc., paid dividends of $3.65 per share during the year. Also assume that the company's common stock had a market price of $60 at the end of the year and there was no change in the number of outstanding shares of common stock during the year. Required: Compute financial ratios as follows: Earnings per share. (Round your answer to 2 decimal places.) Earnings per share 2. Dividend payout ratio. (Round your intermediate calculations to 2 decimal places. Round your final percentage answer to 1 decimal place (ie, 0.1234 should be considered as 12.3%)) Dividend payout ratio 3. Dividend yield ratio. (Round your percentage answer to 1 decimal place (i.e, 0.1234 should be considered as 12.3%).) ividend yield ratio calculations to 2 decimal places and final answer to 1 decimal place.) arnings ratio Book value per share. (Round your answer to 2 decimal places.) value per share
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