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Lakeshore Manufacturing Corp. has the following information: • • Market value per share $85.00 Net income = = $2,000,000 Weighted-average number of shares outstanding = 400,000 What is the company's price-earnings (P/E) ratio? a. 18.8 b. 22.0 c. 21.25 d. 17.0

Lakeshore Manufacturing Corp. has the following information: • • Market value per share $85.00 Net income = = $2,000,000 Weighted-average number of shares outstanding = 400,000 What is the company's price-earnings (P/E) ratio? a. 18.8 b. 22.0 c. 21.25 d. 17.0

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter24: Analysis Of Financial Statements
Section: Chapter Questions
Problem 6CE
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Lakeshore Manufacturing Corp. has the following information: • • Market value per share $85.00 Net income = = $2,000,000 Weighted-average number of shares outstanding = 400,000 What is the company's price-earnings (P/E) ratio? a. 18.8 b. 22.0 c. 21.25 d. 17.0
Transcribed Image Text:Lakeshore Manufacturing Corp. has the following information: • • Market value per share $85.00 Net income = = $2,000,000 Weighted-average number of shares outstanding = 400,000 What is the company's price-earnings (P/E) ratio? a. 18.8 b. 22.0 c. 21.25 d. 17.0
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