For calendar 2017, Budapest Corp.reported net income of $29,280 and earnings per share of $2.46.There were 12,000 common shares outstanding during 2017.On Dec 31, 2017, the market price for Budapest's common shares was $32.To the nearest whole number, what is Budapest's price earnings ratio at Dec 31, 2017?

Question

Quizplus · Accepted Answer

The price earnings ratio is calculated by dividing the market price per share by the earnings per share. So, $32 / $2.46 = 13.008, which rounds to 13.

For Calendar 2017, Budapest Corp