The following selected information (in millions, except for per-share information) is available for Bank of Nova Scotia 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. Basic earnings per share
4. Return on common shareholders' equity
(b) Comment on the above ratios for 2015 in comparison with the prior year, and in comparison with the industry.

20152014 Weighted average number of common shares Income available to common shareholders (equals net income) $7,213 $7,298 Dividends declared and paid per common share Dividends declared and paid on common shares Average common shareholders' equity Market price per common share Industry averages were as follows Payout ratio Dividend yield Basic earnings per share Return on common shareholders' equity 1,2101,214 2.72 2.56 3,289 3,110 47,025 42,565 61.49 69.02 45.5% 44.8% 4.3% 3.8% n/a n/a 13.6% 14.7%