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Cadarette Corporation's most recent balance sheet and income statement appear below: Dividends on common stock during Year 2 totaled $40 thousand. Dividends on preferred stock

Cadarette Corporation's most recent balance sheet and income statement appear below:

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Dividends on common stock during Year 2 totaled $40 thousand. Dividends on preferred stock totaled $10 thousand. The market price of common stock at the end of Year 2 was $17.73 per share. The price-earnings ratio for Year 2 is closest to:

A) 11.08

B) 17.73

C) 19.70

D) 12.40

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