The following selected information (in millions, except for per share information) is available for Scotiabank for the year ended October 31:

Instructions
(a) Calculate the following ratios for the common shareholders for each fiscal year:
1. Payout ratio
2. Dividend yield
3. Earnings per share
4. Return on common shareholders' equity
(b) Comment on the above ratios for 2012 in comparison with the prior year and in comparison with the industry.

2012 1,133 $6,023 2.19 2,493 30,804 54.25 2011 Weighted average number of common shares Profit available to common shareholders Common cash dividends per share Total common cash dividends Average common shareholders' equity Market price per common share 1,072 $4,965 2.05 24,042 52.53 Industry averages were as follows: 30.0% 4.3 n/a 24.4 40.0% 3.8 Payout ratio Dividend yield Earnings per share Return on common shareholders' equity 17.7