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Patti's Has Net Income of $1,800,a Price-Earnings Ratio of 12,and

Question 39

Multiple Choice

Patti's has net income of $1,800,a price-earnings ratio of 12,and earnings per share of $1.20. How many shares of stock are outstanding?

A) 1,200
B) 1,400
C) 1,500
D) 1,600
E) 1,800

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