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Spartan Industries recently disclosed the following financial information: • Net Income: $2,346,500 • Total Assets: $15,800,000 • Total Liabilities: $4,925,000 • Shares Outstanding: 782,150 Market Price: $41.50 per share Calculate the price-earnings ratio.

Spartan Industries recently disclosed the following financial information: • Net Income: $2,346,500 • Total Assets: $15,800,000 • Total Liabilities: $4,925,000 • Shares Outstanding: 782,150 Market Price: $41.50 per share Calculate the price-earnings ratio.

Managerial Accounting: The Cornerstone of Business Decision-Making
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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Spartan Industries recently disclosed the following financial information: • Net Income: $2,346,500 • Total Assets: $15,800,000 • Total Liabilities: $4,925,000 • Shares Outstanding: 782,150 Market Price: $41.50 per share Calculate the price-earnings ratio.
Transcribed Image Text:Spartan Industries recently disclosed the following financial information: • Net Income: $2,346,500 • Total Assets: $15,800,000 • Total Liabilities: $4,925,000 • Shares Outstanding: 782,150 Market Price: $41.50 per share Calculate the price-earnings ratio.
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