Sunrise Technologies reported a net income of $3,240,000 and paid dividends of $810,000 to common stockholders last year. The weighted average number of shares outstanding was 900,000. Sunrise's common stock currently trades at $45 per share on the NYSE. Calculate Sunrise Technologies' price-earnings ratio.

Sunrise Technologies reported a net income of $3,240,000 and paid dividends of $810,000 to common stockholders last year. The weighted average number of shares outstanding was 900,000. Sunrise's common stock currently trades at $45 per share on the NYSE. Calculate Sunrise Technologies' price-earnings ratio.

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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