Patti's has net income of $87,300,a price-earnings ratio of 11.8,and earnings per share of $1.13.How many shares of stock are outstanding?
A)6,547 shares
B)38,690 shares
C)77,257 shares
D)93,590 shares
E)8,750 shares

Name: Patti's has net income of $87,300,a price-earnings ratio of 11.8,and earnings per share of $1.13.How many shares of stock are outstanding? A)6,547 shares B)38,690 shares C)77,257 shares D)93,590 shares E)8,750 shares
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Number of shares = $87,300 / $1.13 = 77,257 shares

Patti's Has Net Income of $87,300,a Price-Earnings Ratio of 11