Kiwi, Inc. provides the following information for 20x8: Net income $300,000 Market price per share of common stock $60 per share Dividends paid $200,000 Common stock outstanding at Jan. 1, 2018 150,000 shares Common stock outstanding at Dec. 31. 2018 240,000 shares The company has no preferred stock outstanding. Calculate the price/earnings ratio of common stock 48.00 times 30.00 times 60.00 times 38.96 times Previous