Amigo Software, Inc., has total assets of $891,000, current liabilities of $240,000, and long-term liabilities of $188,000. There is $88,000 in preferred stock outstanding. Thirty thousand shares of common stock have been issued. If there is $50,600 in earnings available to common stockholders and the firm's stock has a P/E of 26 times earnings per share, what is the current price of the stock? Round your answer to 2 decimal places.

Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
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Problem 55E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...
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Amigo Software, Inc., has total assets of
$891,000, current liabilities of $240,000, and
long-term liabilities of $188,000. There is
$88,000 in preferred stock outstanding. Thirty
thousand shares of common stock have been
issued.
If there is $50,600 in earnings available to
common stockholders and the firm's stock has a
P/E of 26 times earnings per share, what is the
current price of the stock? Round your answer
to 2 decimal places.
Transcribed Image Text:Amigo Software, Inc., has total assets of $891,000, current liabilities of $240,000, and long-term liabilities of $188,000. There is $88,000 in preferred stock outstanding. Thirty thousand shares of common stock have been issued. If there is $50,600 in earnings available to common stockholders and the firm's stock has a P/E of 26 times earnings per share, what is the current price of the stock? Round your answer to 2 decimal places.
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