The financial statements of Marks and Spencer plc (M&S) are available at the book’s companion website or can be accessed at http://annualreport.marksandspencer.com/ _assets/downloads/ Marksand-Spencer-Annual-report-and-financial-statements-2012.pdf.

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 31 March 2012?
  (d) How many ordinary shares were outstanding at 31 March 2012, and 2 April 2011?
  (e) What was the pound amount effect of the cash dividends on M&S’s equity?
  (f) What is M&S’s return on ordinary share equity for 2012 and 2011?
  (g) What is M&S’s payout ratio for 2012 and 2011?