1. The Crestar Company reported net income of $175,000 on 30,000 average outstanding common shares. Preferred dividends total $13,000. On the most recent trading day, the preferred shares sold at $60 and the common shares sold at $90. What is this company's current price-earnings ratio?

2. The Miller Company reported gross sales of $950,000, sales returns and allowances of $6,000, and sales discounts of $6,000. The company has average total assets of $600,000, of which $300,000 is property, plant, and equipment. What is the company's asset turnover ratio?