P Co's earnings per share ratios were $1.31 and $1.36 respectively for 20X2 and 20X1. P Co's share was trading at $40 7/16 in 20X2 and $34 11/16 in 20X1. They paid cash dividends of $.515 per share in 20X2 and $.46 per share in 20X1. Total shareholders' equity was $6,401 million and $6,936 million in 20X2 and 20011 respectively. The common shares outstanding were approximately 1,519,000,000 and 1,570,000,000 in 20X2 and 20X1 respectively.
-Calculate P Co's price earnings ratios for 20X2 and 20X1 respectively.
A) 30.9 and 25.5 times
B) 3.2% and 3.9%
C) 29.7 and 26.5 times
D) 29.7% and 26.5%
Correct Answer:
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