Reference no: EM132728427
Question - The following data are provided for Croatia Corp.'s last two fiscal years:
Dec 31, 2021 Dec 31, 2020
Common shares, no par, 24,000 shares outstanding $400,000 $310,000
Cumulative preferred shares, $5, no par value, 4,000 shares outstanding $200,000 $200,000
Subscriptions Receivable, 2000 Common Shares $120,000
Common Shares Subscribed, 2000 shares $240,000
Retained earnings (post-closing) $ 480,000 $430,000
Net income $180,000
Additional information: On May 1, 2021, 6,000 common shares were issued. Although dividends had been declared regularly up to December 31, 2020, preferred dividends were NOT declared during 2021. The market price of the common shares was $ 100 at December 31, 2021.
Required - Compute the price earnings ratio for 2021?
a. 13.76
b. 12.15
c. 14.99
d. 15.55
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