Franklin Corporation reported net income of $60,000 in Year 1. The company had 80,000 shares of $14 par value common stock outstanding and a market price of $18 per share. What is Franklin's price-earnings ratio?

Franklin Corporation reported net income of $60,000 in Year 1. The company had 80,000 shares of $14 par value common stock outstanding and a market price of $18 per share. What is Franklin's price-earnings ratio?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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