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Question - The Bank of MF is a California-based equity investment consulting company. The company primarily provides advises to both institutional and individual investors. The company is specialized in fundamental analysis that involves collecting and evaluating the accounting statements of publicly traded companies.
Sonia Ramirez is a sophomore at the University of MF. She is preparing for an interview for a co-op opportunity at the Bank of MF. The Bank of MF informed her that she will need to take a quiz that evaluates her ability to use Microsoft Excel during the interview.
To prepare for the quiz, Ramirez collects the following data and presents them in an Excel spreadsheet. The number of shares outstanding had always been 200 shares from 2015 to 2019. Ramirez wants to calculate the company's current EPS from 2015 to 2019 and display the data in cell B9, C9, D9, E9, and F9, respectively. She also wants to use the appropriate Excel function to "lock" the value of the number of shares outstanding shown in cell B7 so that she could drag the excel function in cell B9 and drop it to cell C9, D9, E9, and F9. Therefore, Ramirez suggests the function she should use to calculate 2015's current EPS in cell B9 should be =B3/B$7.
Is Ramirez's suggestion on the excel function used to calculate 2015's current EPS justifiable? Why?
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