Practice Question 48 The following amounts were taken from the financial statements of Nicklaus Company: Total assets Net sales Gross profit Net income Weighted average number of common shares outstanding Market price of common stock 2017 $800,000 720,000 352,000 144,000 120,000 2016 $1,000,000 650,000 320,000 117,000 120,000 $40 How much is the price-earnings ratio for 2017 10 times 20 times O 5 times O 30 times Click if you would like to Show Work for this question: Open Show Work Olo