Use the Following Information for Questions

question 33

Multiple Choice

Use the following information for questions
During 2016, Pattar Corp.reported after-tax profit of $450,000 and paid $75,000 in common dividends.The weighted average number of common shares issued in 2016 was 150,000.There are no preferred shares issued.At year end, Pattar's common shares are selling for $60 per share on the Toronto Stock Exchange.
-Pattar's price-earnings ratio is

• A)120 times.
• B)24 times.
• C)20 times.
• D)3 times.

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