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The balance sheets at the end of each of the first two years of operations indicate the following: Kellman Company Year 2 Year 1 Total

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The balance sheets at the end of each of the first two years of operations indicate the following: Kellman Company Year 2 Year 1 Total current assets $617,864 $591,450 Total investments 62,831 40,043 Total property, plant, and equipment 900,911 729,242 Total current liabilities 112,128 85,202 Total long-term liabilities 294,610 249,133 Preferred 9% stock, $100 par 97,219 97,219 Common stock, $10 par 557,345 557,345 Paid-in capital in excess of par-common stock 61,891 61,891 Retained earnings 458,413 309,945 Using the balance sheets for Kellman Company, If net income is $113,316 and interest expense is $39,740 for Year 2, and market price is $35, what is the price hrnings ratio on common stock for Year 2 (rounded to two decimal places)? Select the correct answer. O 18.62 O 10.30 O 10.40 O 1.88

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