Question: Refer to the HEB data in Short Exercise S13-17. Assume the market price of HEB's common stock is $19.50 per share. Compute HEB's price/earnings ratio.

Refer to the HEB data in Short Exercise S13-17. Assume the market price of HEB's is $19.50 per share. Compute HEB's price/earnings ratio.
In Short Exercise S13-17.
HEB had net income for 2018 of $60,450. HEB had 15,500 shares of outstanding at the beginning of the year and 20,100 shares of outstanding as of December 31, 2018. During the year, HEB declared and paid preferred dividends of $2,600.

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