Problemplush pilots inc has balance sheet equity of 54, Ask an Expert

Accounting

Problem:

Plush Pilots, Inc., has balance sheet equity of $5.4 million. At the same time, the income statement shows net income of $783,000. The company paid dividends of $438,480 and has 100,000 shares of stock outstanding.

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Question: If the benchmark PE ratio is 18, what is the target stock price in one year?

Note: Show all workings.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91172479

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