Financial Accounting D.P. May has a net income of$44,000, total assets of $442,000,total liabilities of $211,000, and aprice-book ratio of 3.8. There are62,000 shares of stock outstanding.What is the firm's price-earningsratio?

1. Book Value of Equity- Concept: Represents the net worth of a company based on accounting records-…

Answered: D.P. May has a net income of $44,000,…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 2P

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D.P. May has a net income of $44,000, total assets of $442,000, total liabilities of $211,000, and a price-book ratio of 3.8. There are 62,000 shares of stock outstanding. What is the firm's price-earnings ratio?