A Firm Has Sales of $311,000 and Net Income of $31,600.The

question 23

Multiple Choice

A firm has sales of $311,000 and net income of $31,600.The price-sales ratio is 3.24 and market price is $36 per share.How many shares are outstanding?

• A)20,608
• B)27,990
• C)28,356
• D)30,515
• E)31,011

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Definitions:

Ptosis

A drooping or dropping of an organ or part; for example, the eyelid or the kidney.

Kidneys

A pair of bean-shaped organs that filter waste products and excess fluids from the blood, which are then excreted as urine.

Fatty Cushion

A layer of fat that provides protection and cushioning to parts of the body, acting as a shock absorber and insulator.

Stricture

The narrowing of an opening, tube, or canal, such as the urethra or esophagus.