Assignment Problem: Earnings per Share, Price-Earnings Ratio, Dividend Yield
The following information was taken from the financial statements of Tolbert Inc. for December 31 of the current fiscal year:
Common stock, $30 par value (no change during the year) $4,800,000
Preferred $10 stock, $200 par (no change during the year) 4,000,000
The net income was $584,000 and the declared dividends on the common stock were $40,000 for the current year. The market price of the common stock is $20.40 per share.
For the common stock, determine (a) the earnings per share, (b) the price-earnings ratio, (c) the dividends per share, and (d) the dividend yield. If required, round your answers to two decimal places.
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