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. 0.483 A=L+E 60mil 0.4839 0.30:

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. 0.483 A=L+E 60mil 0.4839 0.30:

Name: 3. Taylor & Co. had earnings per share of $3.50, and it paid a $0.90d
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Description: 3. Taylor & Co. had earnings per share of $3.50, and it paid a $0.90dividend. Total retained earnings increased by $5,200,000 during theyear, while book value per share at the end of the year was $32. Taylorhas no preferred stock, and no new common

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 8RE

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