The most recent balance sheet of Infinity Information Systems (IIS) shows that the company has $35 million

Question:

The most recent balance sheet of Infinity Information Systems (IIS) shows that the company has $35 million of common equity and 7 million shares of common stock outstanding. The company’s common stock has a market value equal to $8 per share. IIS’s net income was $14 million. What are IIS’s

(a) P/E ratio and

(b) M/B ratio?

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