Question
Napoli Industries had net income for Year 2 of $877,500. Napoli had an average number of shares outstanding at the end of the year of
Napoli Industries had net income for Year 2 of $877,500. Napoli had an average number of shares outstanding at the end of the year of 675,000 shares. On January 1, Year 2, the market price of Napoli's stock was $39 per share. On December 31, Year 2, the market price was $42 per share. What is the price-earnings ratio for Napoli at the end of Year 2?
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Management Accounting For Business
Authors: Colin Drury, Mike Tayles
8th Edition
1473778808, 978-1473778801
