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DoveNinja763537 DoveNinja763537
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9 months ago

Sperle Corporation has provided the following data concerning its stockholders’ equity accounts:

Year 2Year 1
Stockholders' equity:
Common stock, $5 par value$ 400,000$ 400,000
Additional paid-in capital60,00060,000
Retained earnings654,000630,000
Total stockholders' equity$ 1,114,000$ 1,090,000

Net income for Year 2 was $30,400. Dividends on common stock during Year 2 totaled $6,400. The market price of common stock at the end of Year 2 was $3.08 per share.

The company’s price-earnings ratio for Year 2 is closest to: (Round your intermediate calculations to 2 decimal places.)



▸ 0.38

▸ 4.53

▸ 5.70

▸ 8.11
Textbook 
Introduction to Managerial Accounting: Brewer Edition: 9e

Introduction to Managerial Accounting: Brewer Edition: 9e


Edition: 9th
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finley07finley07
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9 months ago
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