the balance sheet at the end of each of the first 2 years of operations indicate the following 2012. 2011 total current assets. 600000. 560000 total invest. 60000. 40000 property plant & equip. 900000. 700000 current liab. 125000. 65000 long term liab. 350000. 250000 preferred 9% stock 100 par. 100000. 100000 common stock 10 par. 600000. 600000 paid in capital in excess of par common stock 75000. 75000 retained earnings. 310000. 210000

If net income is 115000 and interest expense is 30000 for 2012 and the market price is 30 what is the price earnings ratio on common stock for 2012 round intermediate calc. to 2 decimal places and final answers to 1 decimal place