2.

continued..

Pioneer's adjusted trial balance as of December 31, 2024 is given below: \begin{tabular}{|c|c|c|} \hline & Debit & Credit \\ \hline Cash & $14,000 & \\ \hline Accounts Receivable & 11,000 & \\ \hline Prepaid Rent & 10,000 & \\ \hline Prepaid Insurance & 2,200 & \\ \hline Office Supplies & 3,300 & \\ \hline Land & 40,000 & \\ \hline Building & 51,000 & \\ \hline Accumulated Depreciation-Building & & $11,000 \\ \hline Equipment & 39,000 & \\ \hline Accumulated Depreciation-Equipment & & 7,200 \\ \hline Accounts Payable & & 5,900 \\ \hline Salaries Payable & & 4,100 \\ \hline Interest Payable & & 2,700 \\ \hline Mortgage Payable (long term) & & 5,000 \\ \hline Common Stock & & 11,500 \\ \hline Dividends & 8,800 & \\ \hline Service Revenue & & 233,600 \\ \hline Salaries Expense & 41,500 & \\ \hline Insurance Expense & 3,500 & \\ \hline Rent Expense & 12,000 & \\ \hline Utilities Expense & 15,000 & \\ \hline Advertising Expense & 9,800 & \\ \hline Depreciation Expense-Building & 10,700 & \\ \hline Depreciation Expense-Equipment & 7,700 & \\ \hline \end{tabular} The earnings per share for a company was $5.00. The company currently had 500,000 shares of stock that were currently selling for $10/ Share. If the net income for the current year is $175,000, what is the price-earnings ratio for this company's stock? A. $5 B. $0.35 C. $2 D. $35,000 Compute the current ratio. (Round your answer to two decimal places.) A. 2.37 B. 7.92 C. 3.19 D. 1.97