During the year richmond paid 3.00 per share in dividends, Ask an Expert

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Richmond Company has 100,000 shares of $10 par value common stock issued and outstanding. Total stockholders' equity is $2,800,000 and net income for the year is $800,000. During the year Richmond paid $3.00 per share in dividends on its common stock. The market value of Richmond's common stock is $24. What is the price-earnings ratio?

a. 3.0

b. 3.5

c. 4.8

d. 8.0

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Accounting Basics, Accounting

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