A company reports the following:- **Net income:** $384,250- **Preferred dividends:** $28,460- **Shares of common stock outstanding:** 47,000- **Market price per share of common stock:** $41.18**Task:** Compute the company's price-earnings ratio. Round the answer to one decimal place.

Answered: me $384,250 $28,460 47,000 $41.18…

me $384,250 $28,460 47,000 $41.18 dividends common stock outstanding rice per share of common stock the company's price-earnings ratio. Round answer to one de

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

A company reports the following:

- **Net income:** $384,250
- **Preferred dividends:** $28,460
- **Shares of common stock outstanding:** 47,000
- **Market price per share of common stock:** $41.18

**Task:** Compute the company's price-earnings ratio. Round the answer to one decimal place.

Expert Solution

Step 1

PE Ratio is the market price per share on the earning per share

Earnings is net income less preferred dividend

Earning per share is earning divided by number of common shares

Step by step

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