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SIGNATURE STEPHEN M. UNGERMAN
TITLE ASST. TREASURER
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<PER-SHARE-DIVIDEND> (0.19)
<PER-SHARE-DISTRIBUTIONS> (0.70)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 15.33
<EXPENSE-RATIO> 1.74
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000803191
<NAME> PRUDENTIAL EQUITY INCOME FUND
<SERIES>
<NUMBER> 003
<NAME> PRUDENTIAL EQUITY INCOME FUND (CLASS C)
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1995
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 1,158,404,843
<INVESTMENTS-AT-VALUE> 1,323,496,658
<RECEIVABLES> 5,358,975
<ASSETS-OTHER> 40,032
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,328,895,665
<PAYABLE-FOR-SECURITIES> 876,275
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5,313,256
<TOTAL-LIABILITIES> 6,189,531
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,131,246,972
<SHARES-COMMON-STOCK> 86,225,656
<SHARES-COMMON-PRIOR> 82,690,208
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 23,769,038
<OVERDISTRIBUTION-GAINS> 2,598,074
<ACCUM-APPREC-OR-DEPREC> 165,092,050
<NET-ASSETS> 1,322,706,134
<DIVIDEND-INCOME> 22,570,800
<INTEREST-INCOME> 3,765,379
<OTHER-INCOME> 0
<EXPENSES-NET> 9,775,968
<NET-INVESTMENT-INCOME> 16,560,211
<REALIZED-GAINS-CURRENT> 24,472,176
<APPREC-INCREASE-CURRENT> 116,255,319
<NET-CHANGE-FROM-OPS> 157,287,706
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (16,700,204)
<DISTRIBUTIONS-OF-GAINS> (57,584,163)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 186,330,075
<NUMBER-OF-SHARES-REDEEMED> (202,985,612)
<SHARES-REINVESTED> 67,988,922
<NET-CHANGE-IN-ASSETS> 134,336,724
<ACCUMULATED-NII-PRIOR> 8,846,851
<ACCUMULATED-GAINS-PRIOR> 56,872,291
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,361,362
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 9,775,968
<AVERAGE-NET-ASSETS> 5,754,000
<PER-SHARE-NAV-BEGIN> 14.36
<PER-SHARE-NII> 1.86
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> (0.19)
<PER-SHARE-DISTRIBUTIONS> (0.70)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 15.33
<EXPENSE-RATIO> 1.74
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
For the semi-annual period ended (a)
04/30/96 File number (c) 811-4864
SUB-ITEM 77 0
EXHIBITS
Transactions Effected Pursuant to Rule
10f-3 1. Name of Issuer
Patriot American Hospitality
2. Date of Purchase
9/27/95
3. Number of Securities Purchased
105,000
4. Dollar Amount of Purchase
$2,520,000
5. Price Per Unit
$24
6. Name(s) of Underwriter(s) or
Dealer(s)
From whom Purchased
Paine Webber
7. Other Members of the Underwriting
Syndicate
Montgomery Securities
Advest, Inc.
Alex, Brown & Sons Incorporated
Smith Barney Inc.
Bear, Stearns & Co. Inc.
Dain Bosworth Incorporated
Dean Witter Reynolds Inc.
Donaldson, Lufkin, & Jenrette Securities
Corporation First of Michigan Corporation
Goldman, Sachs & Co.
Legg Mason Wood Walker Incorporated
McDonald & Company Securities, Inc.
Merrill Lynch, Pierce, Fenner & Smith
Incorporated Oppenheimer & Co., Inc.
PaineWebber Incorporated
Prudential Securities Incorporated
Rauscher Pierce Refsnes, Inc.
Muriel Siebert & Co., Inc.
Stifel, Nicolaus & Company Incorporated
Sutro & Co. Incorporated
BT Securities Corp.
A.G. Edwards & Sons
Cromwell, Weedon & Co.
Doft & Co., Inc.
Fahnestock & Co., Inc.
Furman Selz Inc.
Ladenburg, Thalmann & Co. Inc.
Moors & Cabot Inc.
Morgan Keegan & Co., Inc.
Pennsylvania Merchant Group Ltd.
Principal Financial Securities,
Inc. Southwest Securities Inc.
Tucker, Anthony Inc.
International Underwriters
Montgomery Securities
Smith Barney Inc.
Bear, Stearns International
Limited PaineWebber International
Salomon Brothers International
Limited
For the semi-annual period ended (a) 04/30/96 File
number (c) 811-4864
SUB-ITEM 77 I
Terms of New or Amended Securities
On July 26, 1995, the Board of Directors
authorized the issuance of a fourth class of
shares designated Class Z. Class Z shares are not
subject to either an initial or contingent
deferred sales charge nor are they subject to any
Rule 12b-1 fees. Class Z shares will be offered to
a limited group of eligible investors effective
March 1, 1996.
For the semi-annual period ended (a) 04/30/96
File number (c) 811-4864
SUB-ITEM 77 Q
Exhibits
On February 7, 1996, the Board of Directors
approved and authorized a proposal to increase the
number of Directors, which shall constitute the
Board to ten (10), pursuant to Article II, Section
2.1 of the Fund's Declaration of Trust.