Apex Industries reported a net income of $1,245,600 for the year. The company's stock trades at $34.50 per share, with 425,000 shares outstanding. Calculate the company's price-earnings ratio to ratio to two decimal places.

Apex Industries reported a net income of $1,245,600 for the year. The company's stock trades at $34.50 per share, with 425,000 shares outstanding. Calculate the company's price-earnings ratio to ratio to two 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

Section: Chapter Questions

Problem 55E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...

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Apex Industries reported a net income of
$1,245,600 for the year. The company's
stock trades at $34.50 per share, with
425,000 shares outstanding. Calculate the
company's price-earnings ratio to
ratio to two
decimal places.

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