Foundational 13-2 (LO1 CC1; LO2 CC2, 3, 4) Markus Companys common stock sold for $6.25 per share at the end of this year. The company paid preferred stock dividends totaling $4,400 and a common stock dividend of $1.58 per share this year. It also provided the following data excerpts from this years financial statements: Ending Balance Beginning Balance Cash $ 59,000 $ 51,200 Accounts receivable $ 110,000 $ 76,200 Inventory $ 84,700 $ 110,000 Current assets $ 253,700 $ 237,400 Total assets $ 959,000 $ 1,058,600 Current liabilities $ 99,000 $ 114,000 Total liabilities $ 254,000 $ 228,600 Preferred stock $ 56,000 $ 56,000 Common stock, $1 par value $ 128,000 $ 128,000 Total stockholders equity $ 1,058,600 $ 1,310,000 Total liabilities and stockholders equity $ 759,800 $ 550,200 This Year Sales (all on account) $ 1,310,000 Cost of goods sold $ 759,800 Gross margin $ 550,200 Net operating income $ 393,125 Interest expense $ 18,500 Net income $ 234,800 Required: What is the priceearnings ratio?