Highlink, Inc. reported earnings per share of $4 based on a profit after tax of $450,000. The

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Highlink, Inc. reported earnings per share of $4 based on a profit after tax of $450,000. The company's common shares were selling at $24 per share. During the same year, the company declared and paid total cash dividends of $90,000. Calculate the price-earnings ratio and the payout ratio.
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Accounting Principles

ISBN: 978-1119048473

7th Canadian Edition Volume 2

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

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