Grinch Imports has total shareholders’ equity of $1,298,000 on September 30, 2018. The company issues only no-par common stock and had 300,000 shares outstanding on that date. During the fiscal year ended September 30, 2018, the company earned net income of $186,600 and paid dividends totaling $67,800. The stock was selling for $20 per share. Compute the following:
A. Return on common equity
B. Dividend payout ratio
C. Earnings per share
D. Price-earnings ratio
E. Dividend yield