Question: Which of the following is NOT an adjustment that may need to be made when calculating P/E? Question Select one: a. If earnings are negative, adjustments should be made to make that it becomes a positive number. b. Cyclical variations in earnings should be removed. c. Adjustments to EPS may need to be made if new shares have been issued. d. Earnings may need to be adjusted when comparing companies with different accounting methods. Theta Ltd had Cash Flow from Operations for the last financial year of $748,000. During the year it paid $114,000 in interest. Its tax rate is 35%. Its share price is $20.66 and it has 173,000 shares outstanding. What is its P/CF ratio? Question Answer a. 4.78 b. 4.15 c. 4.35 d. 5.30