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Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN: 9781337115773
Author: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher: Cengage Learning
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Question
Compute the firm's price earnings ratio on these financial accounting question

Transcribed Image Text:Carlton Industries reported a net income of $920,000
for the year. The company's share price is $15.25, and
it has 400,000 shares outstanding. Compute the
firm's price-earnings (P/E) ratio.
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