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A technology company reports quarterly net income of $18 million. They have 45 million shares outstanding, and the current market price is $39.60 per share. What is the company's price-to-earnings ratio? a. 99.0 b. 2.2 c. 712.8 d. 0.45 e. 712.8

A technology company reports quarterly net income of $18 million. They have 45 million shares outstanding, and the current market price is $39.60 per share. What is the company's price-to-earnings ratio? a. 99.0 b. 2.2 c. 712.8 d. 0.45 e. 712.8

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A technology company reports quarterly net income of $18 million. They have 45 million shares outstanding, and the current market price is $39.60 per share. What is the company's price-to-earnings ratio? a. 99.0 b. 2.2 c. 712.8 d. 0.45 e. 712.8
Transcribed Image Text:A technology company reports quarterly net income of $18 million. They have 45 million shares outstanding, and the current market price is $39.60 per share. What is the company's price-to-earnings ratio? a. 99.0 b. 2.2 c. 712.8 d. 0.45 e. 712.8
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