Presented here are summarized data from the balance sheets and income statements of Wiper Incorporated:...
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Finance
Presented here are summarized data from the balance sheets and income statements of Wiper Incorporated:
WIPER INCORPORATED
Condensed Balance Sheets
December 31, 2023, 2022, 2021
(in millions)
2023
2022
2021
Current assets
$ 734
$ 959
$ 813
Other assets
2,421
1,928
1,727
Total assets
$ 3,155
$ 2,887
$ 2,540
Current liabilities
$ 585
$ 838
$ 731
Long-term liabilities
1,555
1,015
883
Stockholders equity
1,015
1,034
926
Total liabilities and stockholders' equity
$ 3,155
$ 2,887
$ 2,540
WIPER INCORPORATED
Selected Income Statement and Other Data
For the Years Ended December 31, 2023 and 2022
(in millions)
2023
2022
Income statement data:
Sales
$ 3,058
$ 2,921
Operating income
304
318
Interest expense
92
73
Net income
215
210
Other data:
Average number of common shares outstanding
42.1
47.5
Total dividends paid
$ 58.0
$ 53.1
e. If Wiper's stock had a price/earnings ratio of 13 at the end of 2023, what was the market price of the stock?
f. Calculate the cash dividend per share for 2023 and the dividend yield based on the market price calculated in part e.
e. If Wiper's stock had a price/earnings ratio of 13 at the end of 2023, what was the market price of the stock? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. f. Calculate the cash dividend per share for 2023 and the dividend yield based on the market price calculated in part e. Note: Do not round intermediate calculations. Round your percentage answers to 2 decimal place (i.e., 0.1234 should be entered as 12.34.
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