Use the Following Stock Quotes to Answer This Question

question 2

Multiple Choice

Use the following stock quotes to answer this question:

-Baker Company has 136,000 shares of stock outstanding and a PE ratio of 18.What was the net income for the most recent four quarters?

• A) $590,089
• B) $678,003
• C) $727,972
• D) $1,306,900
• E) $1,405,800

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Definitions:

Excise Taxes

Taxes paid on specific goods and services, such as tobacco and fuel, intended to raise revenue and discourage consumption of these items.

Progressive

relates to a taxation system where the tax rate increases as the taxable base amount increases, often aimed at redistributing income to achieve a more equitable society.

Corporate Income Tax

A tax imposed on the net income of corporations, calculated on the basis of the business's profit, contributing to government revenues.

Defense Spending

Expenditures by a government on military and defense-related activities to maintain national security.