Reference no: EM131127248
The balance sheet for Bearing Industries Inc. at the end of the current fiscal year indicated the following:
Bonds payable, 10% (issued in 2000 due in 2020) $4,000,000
Preferred $5 stock, $100 par 1,000,000
Common stock, $10 par 2,000,000
Income before income tax was $1,000,000, and income taxes were $150,000, for the current year. Cash dividends paid on common stock during the current year totaled $200,000. The common stock was selling for $40 per share at the end of the year.
Determine each of the following:
(a) Number of times bond interest charges are earned,
(b) Number of times preferred dividends are earned,
(c) Earnings per share on common stock,
(d) Price-earnings ratio,
(e) Dividends per share of common stock, and
(f) Dividend yield. Round to one decimal place except earnings per share, which should be rounded to two decimal places.
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