I need assistance with this financial accounting problem using appropriate calculation techniques. Axiom Technologies reports total sales of $850,000. The profitmargin is 9.5%. The company has 20,000 shares of stockoutstanding. The current market price per share is $62.75.What is the price-to-earnings (P/E) ratio?

Step 1: Definition of Price-to-Earnings (P/E) RatioThe Price-to-Earnings (P/E) ratio measures how…

Answered: Axiom Technologies reports total sales…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 13P

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Axiom Technologies reports total sales of $850,000. The profit margin is 9.5%. The company has 20,000 shares of stock outstanding. The current market price per share is $62.75. What is the price-to-earnings (P/E) ratio?