In: Finance
That Wich Corp. had additions to retained earnings for the year just ended of $333,618. The firm paid out $245,579 in cash dividends, and it has ending total equity of $4,846,610. The company currently has 150,000 shares of common stock outstanding.
If the stock currently sells for $62 per share, what is the market-to-book ratio? (round 2 decimal places)
market Value = 62 * 150,000 = 9,300,000
Book Value = 4,846,610
market to Book value = 9,300,000 / 4,846,610
= 1.92