Solve this Ravelo Inc. has reported a net income of$842,500 for the year. The company'sshare price is $16.80 and there are 385,000outstanding shares.Compute the firm's price-earnings ratio.(FINANCIAL ACCOUNTING)

Firm's price-earnings ratio is 7.68 .

Answered: Ravelo Inc. has reported a net income…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 2P

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Ravelo Inc. has reported a net income of $842,500 for the year. The company's share price is $16.80 and there are 385,000 outstanding shares. Compute the firm's price-earnings ratio. (FINANCIAL ACCOUNTING)