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Use the following information for Exercises 16-40 and 16-42:

Rebert Inc. showed the following balances for last year:

January 1

December 31

Stockholders equity:

Preferred stock, $100 par, 8%

$ 4,000,000

$ 4,000,000

Common stock, $3 par

3,000,000

3,000,000

Additional paid-in capital*

4,800,000

4,800,000

Retained earnings

4,000,000

4,250,000

Total stockholders equity

$15,800,000

$16,050,000

*

For common stock only.

Reberts net income for last year was $3,182,000.

Exercise 16-41Earnings per Share, Price-Earnings Ratio

Refer to the information for Rebert Inc. above. Also, assume that the market price per share for Rebert is $51.50.

Required:

• 1.Compute the dollar amount of preferred dividends.
• 2.Compute the number of common shares.
• 3.Compute earnings per share. (Note:Round to two decimals.)
• 4.Compute the price-earnings ratio. (Note:Round to the nearest whole number.)