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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Assets
|
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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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