Goodman Company had a net income of \(\$ 672,000\) for 2008. Goodman Company's balance sheet disclosed the stockholders' equity on December 31, 2008, as follows:

The price of Goodman common stock was \(\$ 72.80\) per share on December 31, 2008. Determine the price-earnings ratio for Goodman Company.obj. 5

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Preferred stock, 8,000 shares of $100 par value, 6% stock Common stock, 120,000 shares of $1 par value stock issued and outstanding Paid-in capital in excess of par value Total stockholders' equity $ 800,000 120,000 2,400,000 $3,320,000