Net income $290,000
$60 per share Market price per share of common stock Dividends paid $190,000 Common stock outstanding at Jan. 1, 2024 180,000 shares
Common stock outstanding at Dec. 31, 2024 200,000 shares The company has no preferred stock outstanding. Calculate the price/earnings ratio of common stock. (Round any intermediate calculations and your final answer to two decimal places.) COLE