Presented below is information reported by Sunland Ltd. for its past two fiscal years: Dec 31, 2024
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Question:
Presented below is information reported by Sunland Ltd. for its past two fiscal years:
Dec 31, 2024 | Dec 31, 2023 | |||
Common shares | $74000 | $59970 | ||
6% preferred shares, no par value, non-cumulative | 356000 | 356000 | ||
Retained earnings (post closing) | 90000 | 74000 | ||
Net income for year | 59970 | 31000 |
On December 31, 2024, there were 9000 common shares outstanding trading at $15/share. The preferred dividend was paid. No common shares have been bought or sold during the year. What is the price earnings ratio in 2024?
Related Book For
Intermediate Accounting Volume 2
ISBN: 9781119497042
12th Canadian Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
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