Lassiter Industries Has Annual Sales of $220,000 with 10,000 Shares

question 29

Multiple Choice

Lassiter Industries has annual sales of $220,000 with 10,000 shares of stock outstanding. The firm has a profit margin of 7.5 percent and a price-sales ratio of 1.20. What is the firm's price-earnings ratio?

• A)14
• B)16
• C)18
• D)20
• E)22

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