Argent Corporation had earnings per share of $4 last year, and it paid a $2 dividend. Total
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Argent Corporation had earnings per share of $4 last year, and it paid a $2 dividend. Total retained earnings increased by $12 million during the year, while book value per share at year-end was $40. Argent has no preferred stock, and no new common stock was issued during the year. If Argent’s year-end debt (which equals its total liabilities) was $120 million, what was the company’s year-end debt/assets ratio?
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The debtassets ratio is calculated by dividing the total debt by the total assets of a company In th...View the full answer
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Related Book For 
Financial Management Theory & Practice
ISBN: 9780324652178
12th Edition
Authors: Eugene BrighamMichael Ehrhardt
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