Top Posters
Since Sunday
5
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
DoveNinja763537 DoveNinja763537
wrote...
Go to Answer
Posts: 141
Rep: 0 0
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
Authors:
Read 69 times
1 Reply
Replies
Answer verified by a subject expert
finley07finley07
wrote...
#1
Posts: 128
Rep: 1 0
9 months ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

DoveNinja763537 Author
wrote...

9 months ago
Helped a lot
mcraver1
wrote...

Yesterday
Good timing, thanks!
Loruiz15
wrote...

2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1335 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 101
  
 403
  
 325
Your Opinion
Which is the best fuel for late night cramming?
Votes: 145
Previous poll results: Where do you get your textbooks?