Problemfrost corporation reported net income of 65000 in, Ask an Expert

Accounting

Problem:

Frost Corporation reported net income of $65,000 in 2013. The company had 90,000 shares of $12 par value common stock outstanding and a market price of $18 per share. Frost's price-earnings ratio was closest to:

25:1
2.5:1
16.6:1
1.5:1

Note: Please explain comprehensively and give step by step solution.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91164930

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