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Lotsky Power Tools Corp Had Net Income of $1,478,000

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Lotsky Power Tools Corp had net income of $1,478,000.It paid $5,000 in preferred dividends.Lotsky had 200,000 common shares issued,and 8,000 treasury shares.The market price of Lotsky's shares was $38.25.Calculate the price-earnings ratio.

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Definitions:

Pragmatists

refers to individuals or philosophies focused on practical approaches to problems and affairs, emphasizing actions and results over abstract principles.

Meaningful Work

Professions or duties that contributors perceive as having a significant positive impact, contributing to a greater good or personal fulfillment.

Monetary Rewards

Financial benefits given to employees as recognition for their work or achievements, often in the form of bonuses, salary increases, or commissions.

Ongoing Practices

Activities or processes that are continuously conducted or repeated over time, forming a regular pattern or routine.

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