Shown below are selected data from the financial statements of Noble Computers. (Dollar amounts are...
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Accounting
Shown below are selected data from the financial statements of Noble Computers. (Dollar amounts are in millions, except for the per share data.)
| Income statement data: | |||
| Net sales | $ | 3,500 | |
| Cost of goods sold | $ | 1,890 | |
| Operating expenses | $ | 675 | |
| Net income | $ | 115 | |
| Balance sheet data: | |||
| Average total equity | $ | 540 | |
| Average total assets | $ | 4,400 | |
Noble reported earnings per share for the year of $6 and paid cash dividends of $2.00 per share. At year-end, the Wall Street Journal listed Noble's capital stock as trading at $81 per share.
Noble's price-earnings ratio at year end was:
Select one:
a. 0.07
b. 13.5
c. 17
d. 1.42
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