The single most important issue in the stock valuation process is a company's 57. A. Past earnings record B. Historic dividend growth rate C. Expected future returns D. Capital structure Which of the following variables affect the P/E ratio? 58. I Capital structure of a firm IL. Amount of dividends paid III. Inflation rate IV. Earnings rate of growth A. I, II and III only B. I, II and IV only C. I, III and IV only D. I, II, III and IV Which of the following contributes to high P/E ratios? 59. A. High dividend payout ratios B. High rate of earnings growth C. Periods of high inflation D. High debt ratios