Patti's Has Net Income of $87,300,a Price-Earnings Ratio of 11

question 77

Multiple Choice

Patti's has net income of $87,300,a price-earnings ratio of 11.8,and earnings per share of $1.13.How many shares of stock are outstanding?

• A)6,547 shares
• B)38,690 shares
• C)77,257 shares
• D)93,590 shares
• E)8,750 shares

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Definitions:

Developing Countries

Countries characterized by a lower quality of life, undeveloped industrial sectors, and a lower Human Development Index compared to other nations.

Untreated Sewage

Waste water and solids that have not been processed or purified, often containing harmful bacteria, viruses, and chemicals.

Sewage Situation

refers to the condition or management of waste water and solids from residences, institutions, and commercial establishments, often highlighting pollution or disposal issues.

Heavy Oil Components

The high-molecular-weight components found in crude oil, characterized by their high density and viscosity.