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Problem - Earnings per Share and Price-Earnings Ratio

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Problem - Earnings per Share and Price-Earnings Ratio

A company reports the following:

Net income $709,500

Preferred dividends $40,000

Shares of common stock outstanding 65,000

Market price per share of common stock $131.84

Required -

a. Determine the company's earnings per share on common stock. Round your answer to the nearest cent. Use the rounded answer of requirement a for subsequent requirement, if required.

b. Determine the company's price-earnings ratio. Round to one decimal place.

Reference no: EM132569357

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