Deep Falls Timber stock sold for $6.50 a share as of 2015. What was the price-earnings ratio at that time?

a. 29.94

b. 12.82

c. 19.64

d. 28.15

e. 17.12

QUESTION 4 Deep Falls Timber 2015 Income Statement Net sales Cost of goods sold Depreciation EBIT Interest $642,100 409,800 138,400 $ 93,900 15,600 $ 78,300 27,500 $ 50,800 Taxable income Taxes Net income Dividends $12,700 Deep Falls Timber Balance Sheets as of December 31, 2014 and 2015 Cash 2015 2014 $ 32,300 $ 46,900 50,700 58,300 70,500 75,800 2015 2014 $ 58,900 $ 61,200 20,000 30,000 134,700 164,500 Accounts receivable Inventory Accounts payable Notes payable Long-term debt Common stock and paid-in surplus ($1 par value) Retained earnings Total liabilities & owners' equity Net fixed assets 504,500 461,000 220,000 224,400 200,000 186,300 Total assets $658,000 $642,000 $658,000 $642,000 Deep Falls Timber stock sold for $6.50 a share as of 2015. What was the price-earnings ratio at that time