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#3, quiz 7 Earnings per Share and Price-Earnings Ratio A company reports the following: Net income $571,000 Preferred dividends $32,000 Shares of common stock outstanding

#3, quiz 7
Earnings per Share and Price-Earnings Ratio A company reports the following: Net income $571,000 Preferred dividends $32,000 Shares of common stock outstanding 70,000 Market price per share of common stock $81.62 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. 17. X b. Determine the company's price-earnings ratio. Round to one decimal place. 4.575 X

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