Essay
Phelps, Inc., had assets of $67,646 and liabilities of $15,466 at the close of 2010 with 10,718 shares of outstanding common stock. Net income for 2010 was $7,829. At the end of 2011, assets were $79,571, liabilities were $18,551, and the company had 10,771 shares of outstanding stock trading at a price of $10 per share. Net income for 2011 was $9,993.
a) Calculate EPS for 2011. b) Calculate ROE for 2011.
c) Calculate the Price/Earnings Ratio for 2011.
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a) EPS = Net income/Average number of ou...View Answer
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