Napoli Industries had net income for Year 2 of $2,064,000. N…
Napoli Industries had net income for Year 2 of $2,064,000. Napoli had an average number of shares outstanding at the end of the year of 860,000 shares. On January 1, Year 2, the market price of Napoli’s stock was $90 per share. On December 31, Year 2, the market price was $93 per share. What is the price-earnings ratio for Napoli at the end of Year 2?