The financial statements of M&S are presented in Appendix E. The company’s complete annual report, including the notes to the financial statements, is available online.

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 1 April 2017?

d. What was the pound amount effect of the cash dividends on M&S’s equity?

e. What is M&S’s return on ordinary share equity for 2017 and 2016?

f. What is M&S’s payout ratio for 2017 and 2016?