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.

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.
Transcribed Image Text: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.
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