Reagan Corp. has reported a net income of $828,900 for the year. The company's share price is $12.18, and the company has 313,580 shares outstanding. Compute the firm's price-earnings ratio up to two decimal places.

Reagan Corp. has reported a net income of $828,900 for the year. The company's share price is $12.18, and the company has 313,580 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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Provide correct answer for this financial accounting

Reagan Corp. has reported a net income of $828,900
for the year. The company's share price is $12.18, and
the company has 313,580 shares outstanding.
Compute the firm's price-earnings ratio up to two
decimal places.

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