Franklin Corporation reported net income of $40,000 in Year 1 . The company had 50,000 shares of $12 par value common stock outstanding and a market price of $17 per share. What is Franklin's price-earnings ratio? Multiple Cholce 21 21 14 1.4 On March 1, Year 1, Gilmore Incorporated declared a cash dlidend on its 1,500 outstanding shares of $50 par value, 6% preferred stock. The dlvidend will be pald on May 1, Year 1 to the stockholders of record as of Aprll 1, Year 1. How will the entry to record the declaration of the dlvidend on March 1 affect the elements of the financial statements? Multiple Cholce Option A Option B Optlon C Option D Franklin Corporation reported net income of $40,000 in Year 1 . The company had 50,000 shares of $12 par value common stock outstanding and a market price of $17 per share. What is Franklin's price-earnings ratio? Multiple Cholce 21 21 14 1.4 On March 1, Year 1, Gilmore Incorporated declared a cash dlidend on its 1,500 outstanding shares of $50 par value, 6% preferred stock. The dlvidend will be pald on May 1, Year 1 to the stockholders of record as of Aprll 1, Year 1. How will the entry to record the declaration of the dlvidend on March 1 affect the elements of the financial statements? Multiple Cholce Option A Option B Optlon C Option D