ON %24 Home CengageNOWv2| Online teachin x takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Paused Earnings per Share and Price-Earnings Ratio A company reports the following: Net income $916,000 Preferred dividends $52,000 Shares of common stock outstanding 000'06 Market price per share of common stock $108.48 a. Determine the company's earnings per share on common stock. Round your answer to the nearest cent. Use the rounded answer of requirement a for subsequent requirement, if required. b. Determine the company's price-earnings ratio. Round to one decimal place. Previous Next Submit Test for Grading All work saved. 10:37 PM 53°F Cloudy ^ 11/11/2021 61

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Earnings per Share and Price-Earnings Ratio
A company reports the following:
Net income
$916,000
Preferred dividends
$52,000
Shares of common stock outstanding
000'06
Market price per share of common stock
$108.48
a. Determine the company's earnings per share on common stock. Round your answer to the nearest cent. Use the rounded answer of requirement a for subsequent requirement, if required.
b. Determine the company's price-earnings ratio. Round to one decimal place.
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Submit Test for Grading
All work saved.
10:37 PM
53°F Cloudy ^
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Transcribed Image Text:ON %24 Home CengageNOWv2| Online teachin x takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Paused Earnings per Share and Price-Earnings Ratio A company reports the following: Net income $916,000 Preferred dividends $52,000 Shares of common stock outstanding 000'06 Market price per share of common stock $108.48 a. Determine the company's earnings per share on common stock. Round your answer to the nearest cent. Use the rounded answer of requirement a for subsequent requirement, if required. b. Determine the company's price-earnings ratio. Round to one decimal place. Previous Next Submit Test for Grading All work saved. 10:37 PM 53°F Cloudy ^ 11/11/2021 61
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