question 117
Multiple Choice
Comparative financial statements for Cross, Inc.are shown below: Assets Current assets: Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant and equipment, net Total assets Liabilities and Stockholders’ Equity Current liabilities: Accounts payable Other current liabilities Total current liabilities Long-term debt Total liabilities Stockholders’ equity: Common stock Retained earnings Retained earnings Total stockholders’ equity Total liabilities and stockholders’ equity Net sales Cost of goods sold Gross margin Operating expense Operating income Interest expense Earnings before tax Income taxes Net income December 312018$89,103142,00096,70821,203349,014822,576$1.171.590$85,44338,112123,555302,430425,985600,000145,60514,700745,605$1,171,590 Year Ended December 312018$17,005,85212,250,2574,755,5953,585,6571,169,93828,5001,141,438342,431$799,0072017$68,203135,00085,6945,118294,015718,144$1012,159$62,39433,50795,901290,324386,225600,00025,9348,000625,934$1,012,1592017$13,809,5859,825,6143,983,9713,400,258583,71327,300556,413166,924$389,489 The market price per share of Cross, Inc.'s common stock is $103.00 at the end of 2018.Throughout both 2017 and 2018, there are 500,000 shares of common stock outstanding.How much is Cross, Inc.'s price-earnings ratio at the end of 2018?
Definitions:
Oversight
The process of supervising, monitoring, and potentially directing activities or operations, usually in the context of governance or management.
Executive Agencies
Parts of the government under the direct authority of the President or the executive branch, responsible for the enforcement of laws.
Accountability
The obligation of individuals or organizations to account for their activities, accept responsibility for them, and disclose the results in a transparent manner.
House Oversight
A function of the United States House of Representatives that involves monitoring and supervising federal agencies, programs, activities, and policy implementation.