Required information [The following information applies to the questions displayed below.] Markus Company's common stock sold for $5.50 per share at the end of this year. The company paid a common stock dividend of $0.77 per share this year. It also provided the following data excerpts from this year's financial statements: Ending Beginning Balance Balance Cash $ 54,500 $ 47,200 Accounts receivable $ 100,000 $ 71,200 Inventory $ 79,000 $ 100,000 Current assets $ 233,500 $ 218,400 Total assets $ 857,000 $ 938,800 Current liabilities $ 91,500 $ 100,500 Total liabilities $ 232,000 $ 208,800 Common stock, $1 par value $ 171,000 $ 171,000 Total stockholders' equity $ 625,000 $ 730,000 Total liabilities and stockholders' equity $ 857,000 $ 938,800 Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income This Year $1,195,000 $ 693,100 $ 501,900 $ 338.250 $ 16,500 $ 225,225 What is the price-earnings ratio? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Price-earnings ratio