B	C	D	E
	You need to analyze the market performance of MSNBC over the past three years.
	From the following data, calculate the required Multiple Ratios.
	MSNBC	2019	2018	2017
	Sales	$13,130,000	$12,500,000	$11,750,000
	Net Income	$5,234,599	$4,500,000	$4,000,000
	Total Assets	85000000	65,000,000	58345000
	Total Liabilities	53000000	51,456,000	49500000
	Common Stock Outstanding	1200000	1200000	1200000
	Dividends	$6.54	$5.65	$4.72
	Dividend Growth	6.00%	5.00%	4.00%
	Expected Return	15.50%	16.30%	17.50%

In order to determine the Price of the stock, follow the DDM: Do*(1+g) / (K - g)

What is the Price Earnings (P/E) ratio in 2019, 2018, and 2017?

	a.	Price Earnings (P/E) ratio in 2019 = 16.73 Price Earnings (P/E) ratio in 2018 = 14.00 Price Earnings (P/E) ratio in 2017 = 10.91
	b.	Price Earnings (P/E) ratio in 2019 = 18.73 Price Earnings (P/E) ratio in 2018 = 15.00 Price Earnings (P/E) ratio in 2017 = 10.91
	c.	Price Earnings (P/E) ratio in 2019 = 18.73 Price Earnings (P/E) ratio in 2018 = 14.00 Price Earnings (P/E) ratio in 2017 = 11.91
	d.	Price Earnings (P/E) ratio in 2019 = 17.63 Price Earnings (P/E) ratio in 2018 = 14.00 Price Earnings (P/E) ratio in 2017 = 10.41