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A company has assets of $500,000, current liabilities of $60,000, and long-term liabilities of $150,000. There is $50,000 in preferred stock outstanding; 35,500 shares
A company has assets of $500,000, current liabilities of $60,000, and long-term liabilities of $150,000. There is $50,000 in preferred stock outstanding; 35,500 shares of common stock have been issued. If there is $54,000 in earnings available to common stockholders, and the company's stock has a P/E of 18.5 times earnings per share, what is the current price of the stock?
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Using Financial Accounting Information The Alternative to Debits and Credits
Authors: Gary A. Porter, Curtis L. Norton
7th Edition
978-0-538-4527, 0-538-45274-9, 978-1133161646
