The financial statements of M&S are presented in Appendix 5B or can be accessed at the book’s companion website, www.wiley.com

Instructions
Refer to M&S’s financial statements and the accompanying notes to answer the following questions.
(a) What is the par or stated value of M&S’s preference shares?
(b) What is the par or stated value of M&S’s ordinary shares?
(c) What percentage of M&S’s authorized ordinary shares was issued at December 31, 2008?
(d) How many ordinary shares were outstanding at December 31, 2008, and December 31, 2007?
(e) What was the pound amount effect of the cash dividends on M&S’s equity?
(f) What is M&S’s rate of return on ordinary share equity for 2008 and 2007?
(g) What is M&S’s payout ratio for 2008 and 2007?