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Lassiter Industries Has Annual Sales of $328,000 with 8,000 Shares

Question 62

Multiple Choice

Lassiter Industries has annual sales of $328,000 with 8,000 shares of stock outstanding. The firm has a profit margin of 4.5 percent and a price-sales ratio of 1.20. What is the firm's price-earnings ratio?


A) 21.9
B) 17.4
C) 18.6
D) 26.7
E) 24.3

Correct Answer:

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