financial statement analysis 461031

The following information pertains to Tanzi Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Note: In the calcuation, round the earnings per share amount to the nearest cent.

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Cash and short-term investments $36,295
Accounts receivable (net) $29,590
Inventory $38,477
Property, plant and equipment $234,471
Total Assets $338,833

Liabilities and Stockholders’ Equity

Current liabilities $68,880
Long-term liabilities $89,407
Stockholders’ equity-common $180,546
Total Liabilities and stockholders’ equity $338,833
Income Statement
Sales $89,866
Cost of goods sold $40,440
Gross margin $49,426
Operating expenses $21,599
Net income $27,827
Number of shares of common stock 6,652
Market price of common stock $34

What is the price-earnings ratio for this company?

(I need a detailed answer please where you first calculate earnings per share)

The formula for the price-earnings ratio is the following:

market price per share of common stock/earnings per share on common stock


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