Presented below are selected data from the financial statements of Parade Corp.

	2015	2016
Net income	$150,000	$123,000
Weighted average number of common shares outstanding	105,000	95,000
Market price per share of common stock at the end of the year	$12.00	$10.00

The price/earnings ratio for 2016 is:

a. 1.43 to 1

b. .80 to 1

c. 8.39 to 1

d. 12.50 to 1