You have found the following stock quote for RJW Enterprises, Inc., in the finan

Question

You have found the following stock quote for RJW Enterprises, Inc., in the financial pages of today’s newspaper.

What was the closing price for this stock that appeared in yesterday’s paper? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

If the company currently has 27 million shares of stock outstanding, what was net income for the most recent four quarters? (Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

You have found the following stock quote for RJW Enterprises, Inc., in the financial pages of today’s newspaper.

Explanation / Answer

Solution :

Yield % = Current dividend / closing price

Yield = 3%

Yield = 0.03

0.03 = 2.40 / closing price

Closing price = 2.40 / 0.03

Closing price = $ 80

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Average price per day = ($ 85.13 + $ 88.33)/2

Net Income = $ 86.73 X 27,000,000

Net Income = $ 2,341,710,000

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