Reagan corp. has reported a net income of $802,500 for the year. The company's share price is $13.49, and the company has 323,520 shares outstanding. Compute the firm's price-earnings ratio up to two decimal places.

Reagan corp. has reported a net income of $802,500 for the year. The company's share price is $13.49, and the company has 323,520 shares outstanding. Compute the firm's price-earnings ratio up to two decimal places.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 54E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...

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Question

Compute the firm's price earnings ratio up to two decimal places on this accounting question

Reagan corp. has reported a net income of
$802,500 for the year. The company's share price
is $13.49, and the company has 323,520 shares
outstanding. Compute the firm's price-earnings
ratio up to two decimal places.

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