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
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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
|
|
Justice
Corporation reported the following financial statements:LOADING...
(ClickThe 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
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
|
|
|
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
|
|
|
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
|
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education