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
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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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?

 

Multiple Choice
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    2.4

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    24

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    14

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    1.3

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