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  3. barbur, inc. reported net income of $10.5625 milli

Barbur, Inc. reported net income of $10.5625 million. During the year the average number of...

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Accounting

Barbur, Inc. reported net income of $10.5625 million. During the year the average number of common shares outstanding was 3.25 million. The price of a share of common stock at the end of the year was $5. There were 500,000 shares of preferred stock outstanding on average and no dividends were declared and the preferred stock is noncumulative. The Price/Earnings Ratio is approximately:

Multiple Choice

  • 3.25.

  • 1.54.

  • 4.09.

  • 7.70.

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