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

Question

You have found the following stock quote for RJW Enterprises, Inc., in the fin ancial pages of today's newspaper VOL 100s 18,032 52-WEEK STOCK (DIV) RJW 2.60 YLD % 2.5 PE 15 NET CHG 57 CLOSE HI 108.27 88 43 What was the closing price for this stock that appeared in yesterday's paper? (Do not round intemediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Yesterday's closing price If the company currently has 29 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 ans wer to 2 decimal places, e.g., 32.16.) Net income

Explanation / Answer

Using dividend yield, Stock Price = Dividend / Dividend Yield = 2.6 / 2.5% = $104.00

Using PE, Earnings per share (EPS) = Stock Price / PE = 104 / 15 = $6.93

Net Income = EPS x No. of shares = 6.93 x 29m = $201,066,667

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