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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 $106,131 and interest expense is $30,514 for Year 2 , and the market price of common shares is $47, what is the price-earnings ratio on common stock for Year 2 (rounded to two decimal places)? a. 9.55 b. 26,11 c. 9.44 d. 1.80

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