Bridgeport Inc. has the following selected financial data: Net income Total assets Preferred shares, 3%, cumulative Common shares Retained earnings Accumulated other comprehensive income Total shareholders' equity Cash dividends paid in the year Market price of common shares Weighted average number of common shares 2023 $727,000 5,109,000 601,000 327,000 134,000 3,846,000 124,000 $96.98 2022 2,784,000 2,181,000 77,000 $686,000 4,498,000 601,000 327,000 119,400 3,228,400 168,400 $62.36 77,000
Bridgeport Inc. has the following selected financial data: Net income Total assets Preferred shares, 3%, cumulative Common shares Retained earnings Accumulated other comprehensive income Total shareholders' equity Cash dividends paid in the year Market price of common shares Weighted average number of common shares 2023 $727,000 5,109,000 601,000 327,000 134,000 3,846,000 124,000 $96.98 2022 2,784,000 2,181,000 77,000 $686,000 4,498,000 601,000 327,000 119,400 3,228,400 168,400 $62.36 77,000
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
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 8RE: Given the following year-end information for Somerset Corporation, compute its basic earnings per...
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![There were no preferred dividends in arrears.
(a)
Calculate the following ratios for 2023: (Round your answers to 2 decimal places, e.g. 52.75 or 52.75%.)
(1)
(2)
(4)
(5)
Rate of return on common shareholders' equity
Payout ratio
Price earnings ratio
Book value
Rate of return on total assets
LA
%
%
times
%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F331eb171-10c5-44f8-b62c-dcef3ef66311%2F6f6badff-5f84-43db-b993-3beb52c232fe%2Fe5unt9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:There were no preferred dividends in arrears.
(a)
Calculate the following ratios for 2023: (Round your answers to 2 decimal places, e.g. 52.75 or 52.75%.)
(1)
(2)
(4)
(5)
Rate of return on common shareholders' equity
Payout ratio
Price earnings ratio
Book value
Rate of return on total assets
LA
%
%
times
%
![Bridgeport Inc. has the following selected financial data:
Net income
Total assets
Preferred shares, 3%, cumulative
Common shares
Retained earnings
Accumulated other comprehensive income
Total shareholders' equity
Cash dividends paid in the year
Market price of common shares
Weighted average number of common shares
There were no preferred dividends in arrears.
2023
$727,000
5,109,000
601,000
327,000
2,784,000
134,000
3,846,000
124,000
$96.98
77,000
2022
$686,000
4,498,000
601,000
327,000
2,181,000
119,400
3,228,400
168,400
$62.36
77,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F331eb171-10c5-44f8-b62c-dcef3ef66311%2F6f6badff-5f84-43db-b993-3beb52c232fe%2Fx42qonp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Bridgeport Inc. has the following selected financial data:
Net income
Total assets
Preferred shares, 3%, cumulative
Common shares
Retained earnings
Accumulated other comprehensive income
Total shareholders' equity
Cash dividends paid in the year
Market price of common shares
Weighted average number of common shares
There were no preferred dividends in arrears.
2023
$727,000
5,109,000
601,000
327,000
2,784,000
134,000
3,846,000
124,000
$96.98
77,000
2022
$686,000
4,498,000
601,000
327,000
2,181,000
119,400
3,228,400
168,400
$62.36
77,000
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