Trenton Company has provided the following information: Net income, $240,000; Preferred shares issued,...
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Accounting
Trenton Company has provided the following information:
Net income, $240,000; Preferred shares issued, 6,000; Average number of common shares issued, 24,000; Cash dividends declared and paid on common stock, $30,000; Market price per share, $36; Average treasury shares of common stock, 4,000.
What is Trenton's price/earnings ratio?
A. 3.60.
B. 4.20.
C. 3.00.
D. 4.50.
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