Problem: The balance sheet for the Byrne Dareed Corp. showed liabilities and stockholders' equity balances at the end of each year as given below:
|
|
2010
|
2011
|
|
Current liabilities
|
$750,000
|
$600,000
|
|
Bonds payable
|
1,200,000
|
1,200,000
|
|
Preferred 10% stock, $10 par
|
900,000
|
750,000
|
|
Common stock, $20 par
|
2,250,000
|
1,875,000
|
|
Additional paid-in capital
|
450,000
|
375,000
|
|
Retained earnings
|
750,000
|
540,000
|
|
Net income
|
375,000
|
300,000
|
|
Market price per share, December 31
|
65
|
60
|
|
Common stock dividends
|
75,000
|
45,000
|
Based on the data provided, compute the following ratios for 2011:
Problem 1: The rate of earnings on average total stockholders' equity.
Problem 2: The number of times bond interest requirements were earned.
Problem 3: The rate earned on average common stockholders' equity.
Problem 4: The earnings per share on common stock.
Problem 5: The price-earnings ratio.
Problem 6: Book value per share
Problem 7: Debt-to-equity ratio.
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