COVID's apparel has total assets of P800,000, current liabilities of P150,000, and long-term liabilities of P120,000. There is P65,000 in preferred stock outstanding. Thirty thousand shares of common stock have been issued. If there is P48,000 in earnings available to common stockholders and the firmis stock has a P/E of 15 times earnings per share, what is the current price of the stock?

COVID's apparel has total assets of P800,000, current liabilities of P150,000, and long-term liabilities of P120,000. There is P65,000 in preferred stock outstanding. Thirty thousand shares of common stock have been issued. If there is P48,000 in earnings available to common stockholders and the firmis stock has a P/E of 15 times earnings per share, what is the current price of the stock?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 21EA: James Corporation earned net income of $90,000 this year. The company began the year with 600 shares...

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