Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. kelemen, inc. provides the following information f

Kelemen, Inc. provides the following information for 2017: Net income $250,000 Market price per share...

70.2K

Verified Solution

Question

Accounting

Kelemen, Inc. provides the following information for 2017:

Net income $250,000

Market price per share of common stock $70 per share

Dividends paid $190,000

Common stock outstanding at Jan. 1, 2017 150,000 shares

Common stock outstanding at Dec. 31, 2017 230,000 shares

The company has no preferred stock outstanding. Calculate the price/earnings ratio of common stock. (Round any intermediate calculations and your final answer to two decimal places.)

a) 64.22

b) 41.92

c) 70.00

d) 53.03

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

Tami Tyler opened Tami’s Creations, Inc., a small manufacturing company, at the beginning of the year....

Chemistry
1.2K views

46. Define Young’s modulus. Should it be high or low for a fiber? 47. Define the proportionality...

Medical Sciences
1.2K views

What are the group of muscles that have a primary action to protect the internal organs?b.In...

Psychology
1.2K views

describe an experiment that would test whether the saying \"Honesty is the best policy\" is true...

Psychology
1.2K views

Do you think other people have prejudices about sexuality? Where do you think such prejudices come...

Electrical Engineering
1.2K views

Verilog counter problem: Using the attached 4-bit up-counter module and testbench as a template, write a Verilog...

Basic Math
1.2K views

possible scenarios XYZ Low Low 200 500 0 1 500 High 600 600 400 1000...

Basic Math
1.2K views

The price of a gallon of gasoline is $4.05. The price when Ryan's mother started...

Calculus
1.2K views

Note the following binomial expression.(3x + 3y)The expansion of this binomial has 4 terms. How...

Calculus
1.2K views

Listen Determine the limitlim x 14 14 x O 14 2 0 14 14 O...

Accounting
1.2K views

The confirmation of accounts payable is most closely associated with: A.Assertion risk....

Accounting
1.2K views

John Den Bear Company tena un saldo inicial de $150,000 en Cuentas por cobrar y...