Multiple Choice
Napoli Industries had net income for Year 2 of $650,000.Napoli had an average number of shares outstanding at the end of the year of 500,000 shares.On January 1,Year 2,the market price of Napoli's stock was $20 per share.On December 31,Year 2,the market price was $22 per share.What is the price-earnings ratio for Napoli at the end of Year 2?
A) 16.9
B) 16.2
C) 15.4
D) None of these answer choices is correct
Correct Answer:
Verified
Correct Answer:
Verified
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