the harrison bicycle company had the following operating results for 2018-2019. in addition, the company paid dividends in both 2018 and 2019 of $110,000 per year and made capital expenditures in both years of $230,000 per year. the company's stock price in 2018 was $14.20 and $12.50 in 2019. also in 2019, the industry average earnings multiple for the bicycle industry was 8 and the free cash flow and sales multiples were 16 and 1.35, respectively. the company is publicly owned and has 1,200,000 shares of outstanding stock at the end of 2019.
