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The balance sheets at the end of each of the first two years of operations indicate the following: Using the balance sheets for Kellman Company,

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The balance sheets at the end of each of the first two years of operations indicate the following: Using the balance sheets for Kellman Company, if net income is $112,275 and interest expense is $38,349 for Year 2 , and the market price of common shares is $35, what is the price-earnings ratio on common stock for Year 2 (rounded to two decimal places)? a. 10.08 b. 1.84 C. 9.95 d. 19.02

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