The annual report of Salem Cars, Inc., for the year ended December 31, 2021, included the following
Question:
The annual report of Salem Cars, Inc., for the year ended December 31, 2021, included the following items (in millions):
1. Calculate earnings per share (EPS) and the price-earnings ratio for Salem Cars’ stock. Round to the nearest cent. The price of a share of the company’s stock is $18.
2. How much does the stock market say $1 of Salem Cars’ net income is worth?
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1 First we need to calculate the earnings available to common shareholders Net income Preferr...View the full answer
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