Jay has net income of $38,000, total assets of $437,000, total liabilities of $208,000, and a price-book ratio of 3.8. There are 60,000 shares of stock outstanding. What is the firm's price-earnings ratio?
Jay has net income of $38,000, total assets of $437,000, total liabilities of $208,000, and a price-book ratio of 3.8. There are 60,000 shares of stock outstanding. What is the firm's price-earnings ratio?
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
Problem 2P
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Transcribed Image Text:Jay has net income of $38,000, total assets of $437,000,
total liabilities of $208,000, and a price-book ratio of
3.8. There are 60,000 shares of stock outstanding.
What is the firm's price-earnings ratio?
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