A company reported net income of $478,000 and paid $5,500 in preferred cash dividends during the current year.The company had 100,000 common shares issued,and 10,000 common shares in treasury during the year.The year-end market price per common share was $43.05.Calculate the company's price-earnings ratio.

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The Answer of A company reported net income of $478,000 and paid $5,500 in preferred cash dividends during the current year.The company had 100,000 common shares issued,and 10,000 common shares in treasury during the year.The year-end market price per common share was $43.05.Calculate the company's price-earnings ratio.

A Company Reported Net Income of $478,000 and Paid $5,500