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Based upon the given information, how do you calculate the Price/Earnings Ratio in 2018? I tried 10.75 and that is incorrect Phelps, Inc. had assets
Based upon the given information, how do you calculate the Price/Earnings Ratio in 2018?
I tried 10.75 and that is incorrect
Phelps, Inc. had assets of $128,522, liabilities of $26,590, and 18,134 shares of outstanding common stock at December 31, 2017. Net income for 2017 was $13,419. The company had assets of $150,815, liabilities of $31,907, 13,039 shares of outstanding common stock, and its stock was trading at a price of $10 per share at December 31, 2018. Net income for 2018 was $12,171 Step by Step Solution
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