(Answered) Chang incs balance sheet shows anbspstockholders

Engineering

Chang, Inc.'s balance sheet shows a? stockholders' equity-book value? (total common? equity) of ?$759,900. The? firm's earnings per share is ?$3.05?, resulting in a? price/earnings ratio of 12.04x. There are 52,000 shares of common stock outstanding. What is the? price/book ratio? What does this indicate about how shareholders view? Chang, Inc.?

a) The? price/book ratio is ______________ (round to two decimal places)

?b) "The price/book ratio indicates that the shareholders believe that the? company's shares are worth more than twice their historical cost value on the balance? sheet."

Is the above statement true or? false?

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