Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments $ 40,000 Accounts receivable (net) 25,000 Inventory 20,000 Property, plant and equipment 210,000 Total Assets $295,000 Liabilities and Stockholders Equity Current liabilities 60,000 Long-term liabilities 85,000 Stockholders equity-common 150,000 Total Liabilities and stockholders equity $295,000 Income Statement Sales $ 85,000 Cost of goods sold 45,000 Gross margin 40,000 Operating expenses 20,000 Net income $ 20,000 Number of shares of common stock 6,000,000 Market price of common stock $20 Dividends per share 0.90 Cash provided by operations $30,000 What is the price earnings ratio for this company? Round your answer to one decimal point. (HINT: PE Ratio = Price per share/EPS) a. 6.0 times b. 8.0 times c. 4.0 times d. 2.5 times