Lark Had Net Income for 2018 of $104,000

question 9

Multiple Choice

Lark had net income for 2018 of $104,000.Lark had 32,000 shares of common stock outstanding at the beginning of the year and 48,000 shares of common stock outstanding at the end of the year.There were 5000 shares of preferred stock outstanding all year.During 2018,Lark declared and paid preferred dividends of $30,000.On December 31,2018,the market price of Lark's common stock is $30 per share and the market price of its preferred stock is $57 per share.What is Lark's price/earnings ratio at December 31,2018? (Round any intermediate calculations and your final answer to the nearest cent.)

• A) 30.81
• B) 11.54
• C) 13.85
• D) 16.22

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Definitions:

Anaphase II

A stage in meiosis II where sister chromatids are pulled apart by spindle fibers towards opposite poles of the cell.

Meiosis

A process of cell division that results in four daughter cells each with half the number of chromosomes of the parent cell, as in the production of gametes and plant spores.

Centromeres

The region of a chromosome where the two sister chromatids are joined, playing a crucial role during chromosome segregation in cell division.