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What will the P by E ratio be

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Point 1: Phelps Labs has assets of $430,000, current liabilities of $83,000, and long-term liabilities of $149,000. There is $33,600 in preferred stock outstanding; 20,000 shares of common stock have been issued. Earnings available to common shareholders are $28,500.

Question 1: If the firm sells at two times book value per share, what will the P/E ratio be? (Do not round intermediate calculations. Round the final answer to 2 decimal places.)

Reference no: EM132475749

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