Question: 3. Module 7 Problem Set Earnings per Share and Price-Earnings Ratio A company reports the following: $326,000 Net income $18,000 Preferred dividends Shares of common

3. Module 7 Problem Set Earnings per Share and Price-Earnings Ratio A

Module 7 Problem Set Earnings per Share and Price-Earnings Ratio A company reports the following: $326,000 Net income $18,000 Preferred dividends Shares of common stock outstanding 40,000 $28.49 Market price per share of common stock a. Determine the company's earnings per share on common stock. Round your answer to the nearest cent. Use the rounded answer of requirement a for subsequent requirement, if required. b. Determine the company's price-earnings ratio. Round to one decimal place

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