24 . In performing a vertical analysis , the base for cost of goods sold a total selling expenses b . net sales C . total revenues d . total expenses Johnson Corporation had net income of $200 ,000 and paid dividends to common stockholders of $40 ,000 in 2013 . The weighted average number of shares outstanding in 2013 was 50,100 shares . Terry Corporation's common stock is selling for $60 per share on the New York Stock Exchange 25 . Johnson Corporation's price - earnings ratio is a . 3.8 times b. 15 times C. 18.8 times d . 6 times