Need help with this accounting questions Blue Sky Industries' stock was trading at $85.50 at the end of the fiscal year.The company reported earnings per share of $7.25 for the year. Calculate thecompany's P/E ratio. Round the answer to two decimal places.

Step 1: Definition of PE RatioPrice-to-Earnings (PE) Ratio: The PE ratio is a valuation metric that…

Answered: Blue Sky Industries' stock was trading…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 22E

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Blue Sky Industries' stock was trading at $85.50 at the end of the fiscal year. The company reported earnings per share of $7.25 for the year. Calculate the company's P/E ratio. Round the answer to two decimal places.