Justice Corporation reported the following financial statements: LOADING... (Click the icon to view the financial statements.) The company has 2,900 shares of common stock outstanding and the market price is $25 per share. What is Justice's price/earnings ratio? (Round any intermeidary calculations and your final answer to two decimal places, X.XX.) A. 0.09 B. 8.80 C. 8.80 times D. $0.09 Click to select your answer. Financial Statements Justice Corporation Comparative Balance Sheet December 31, 2025 and 2024 2025 2024 Assets Current Assets: Cash and Cash Equivalents $2,150 $1,724 Accounts Receivable 1,966 1,772 Merchandise Inventory 1,348 1,104 Prepaid Expenses 1,638 2,055 Total Current Assets 7,102 6,655 Other Assets 17,335 16,268 Total Assets $24,437 $22,923 Liabilities Current Liabilities $7,383 $8,495 Long-term Liabilities 4,879 2,340 Total Liabilities 12,262 10,835 Stockholders' Equity Common Stock, no par 5,475 6,188 Retained Earnings 6,700 5,900 Total Stockholders' Equity 12,175 12,088 Total Liabilities and Stockholders' Equity $24,437 $22,923 Justice Corporation Income Statement Year Ended December 31, 2025 Net Sales Revenue $22,428 Cost of Goods Sold 4,904 Gross Profit 17,524 Operating Expenses 6,809 Operating Income 10,715 Interest Expense 219 Income Before Income Taxes 10,496 Income Tax Expense 2,249 Net Income $8,247

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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Question

Justice

Corporation reported the following financial statements:

(Click

the icon to view the financial statements.)

The company has

2,900

shares of common stock outstanding and the market price is

$25

per share. What is

Justice's

price/earnings ratio? (Round any intermeidary calculations and your final answer to two decimal places, X.XX.)

0.09

8.80

times

$0.09

Click to select your answer.

Financial Statements

Justice Corporation
Comparative Balance Sheet
December 31, 2025 and 2024
	2025	2024
Assets
Current Assets:
Cash and Cash Equivalents	$2,150	$1,724
Accounts Receivable	1,966	1,772
Merchandise Inventory	1,348	1,104
Prepaid Expenses	1,638	2,055
Total Current Assets	7,102	6,655
Other Assets	17,335	16,268
Total Assets	$24,437	$22,923
Liabilities
Current Liabilities	$7,383	$8,495
Long-term Liabilities	4,879	2,340
Total Liabilities	12,262	10,835
Stockholders' Equity
Common Stock, no par	5,475	6,188
Retained Earnings	6,700	5,900
Total Stockholders' Equity	12,175	12,088
Total Liabilities and Stockholders' Equity	$24,437	$22,923

Justice Corporation
Income Statement
Year Ended December 31, 2025
Net Sales Revenue	$22,428
Cost of Goods Sold	4,904
Gross Profit	17,524
Operating Expenses	6,809
Operating Income	10,715
Interest Expense	219
Income Before Income Taxes	10,496
Income Tax Expense	2,249
Net Income	$8,247

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