Refer to the Jeanette Company information in Cornerstone Exercise 16-18. Also, assume that the price per common

Question:

Refer to the Jeanette Company information in Cornerstone Exercise 16-18. Also, assume that the price per common share for Jeanette Company is $8.10.


Required:

Compute the price-earnings ratio. Round the answer to two decimal places.


Exercise 16-18

Jeanette Company Income Statement For the Year Ended December 31, 2010 Amount Percent $ 8,281,989 (5,383,293) $ 2,898,69

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