Quasar Corporation Had Net Income of $300000 and Paid Dividends

question 31

Multiple Choice

Quasar Corporation had net income of $300000 and paid dividends to common stockholders of $40000 in 2017. The weighted average number of shares outstanding in 2017 was 60000 shares. Quasar Corporation's common stock is selling for $35 per share on the New York Stock Exchange. Quasar Corporation's price-earnings ratio is

• A) 5.7 times.
• B) 7 times.
• C) 14 times.
• D) 8.1 times.

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