Hyrkas Corporation's most recent balance sheet and income statement appear below: 03:16:37 Current assets: Cash Skipped Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets $ 180 $ 250 Accounts receivable, net Inventory Prepaid expenses Total current assets Plant and equipment, net 280 300 250 220 20 20 730 790 940 980 Total assets $ 1,670 $ 1,770 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities Bonds payable Total liabilities Stockholders' equity: Common stock, $2 par value Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities & stockholders' equity Income Statement For the Year Ended December 31, Year 2 (in thousands of dollars) Sales (all on account) Cost of goods sold Gross margin Selling and administrative expense Net operating income Interest expense Net income before taxes Income taxes (30%) Net income $ 1,320 820 500 395 105 20 85 26 $ 59 $ 220 $ 250 50 50 40 40 310 340 210 300 520 640 200 200 330 330 620 600 1,150 1,130 $ 1,670 $ 1,770 Dividends on common stock during Year 2 totaled $39 thousand. The market price of common stock at the end of Year 2 was $14.40 per share. Required: Compute the following for Year 2 a. Gross margin percentage. Note: Round your answer to 1 decimal place. b. Earnings per share. Note: Round your answer to 2 decimal places. c. Price-earnings ratio.