Question
Rather Corporation's annual report is as follows. March 31, 2018 March 31, 2019 Net Income $362,000 $442,500 Preferred Dividends 0 0 Total Stockholders' Equity $4,270,000
Rather Corporation's annual report is as follows.
| March 31, 2018 | March 31, 2019 | |
| Net Income | $362,000 | $442,500 |
| Preferred Dividends | 0 | 0 |
| Total Stockholders' Equity | $4,270,000 | $5,152,000 |
| Stockholders' Equity attributable to Preferred Stock | 0 | 0 |
| Number of Common Shares Outstanding | 293,464 | 195,168 |
If the current market price is $23.00 on March 31, 2019, compute the price/earnings ratio on March 31, 2019. (Round any intermediate calculations and your final answer to the nearest cent.)
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
