Suppose the company has 100 million common shares outstanding; and stock was selling for $120 per share in 2008. What is the PE ratio for 2008? 2007 2007 2008 $ 2,820 S 2,570 $ Balance Sheet (S in Millions) 2008 Current Assets Current Liabilities Cash S 310 S 405 Accounts receivable 2,640 3,055 Long-term debt Inventory 3,275 3,850 Owners' Equity Total S 6.225 S 7310 Common stock Fixed assets $10.960 $10,670 Retained earnings Total Total assets $17.185 $17.980 Total liabilities and equity $ 7,875 S 8,100 $5,000 S 5.250 1.490 2.060 $ 6.490 S 7,310 $17.185 $17.980 Income Statement (S in Millions) Sales S 9,610 Cost of Goods Sold 6,310 Depreciation 1.370 EBIT Interest 630 Taxable income 1.300 Taxes 455 Net Income S 845 1.930 Suppose the company has 100 million common shares outstanding; and stock was selling for $120 per share in 2008. What is the PE ratio for 2008? O 2.29 O 0.67 OOO OO 14.20 O None of the above O 1.64