Trenton Company has provided the following information: Net income, $240,000; Preferred shares issued,...
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Trenton Company has provided the following information: Net income, $240,000; Preferred shares issued, 6,000; Average common shares issued, 24,000; Common cash dividends declared and paid, $30,000; Market price per share, $36 Average treasury shares of common stock, 4,000. What was Trenton's price earnings ratio? a)3.0 b)5.1 c)3.4 d)4.5 There are several fundamental purposes decision makers consider when they use financial data. Which of the following statements is not one of those fundamental purposes? a)Measurement of the current condition of the business. b)Measurement of past performance of the business. c)Measurement of the book value of the assets. d)Prediction of future potential of the business.
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