A company reported the following: Net income $425,170 Preferred dividends $31,490 Shares of common stock outstanding 56,000 Market price per share of common stock $28.19 Calculate the company's price-earnings ratio. Round your answer to two decimal places. fill in the blank 1

Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter14: Financial Statement Analysis
Section: Chapter Questions
Problem 11BE
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A company reported the following:

Net income $425,170
Preferred dividends $31,490
Shares of common stock outstanding 56,000
Market price per share of common stock $28.19

Calculate the company's price-earnings ratio. Round your answer to two decimal places.
fill in the blank 1

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