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The following amounts were taken from the financial statements of Sunland Company: 2020 2019 Total assets $850000 $1030000 Net sales 690000 640000 Gross profit 356000

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The following amounts were taken from the financial statements of Sunland Company: 2020 2019 Total assets $850000 $1030000 Net sales 690000 640000 Gross profit 356000 320000 Net income 190000 115000 Weighted average number of common shares outstanding 40000 93000 Market price of common stock $137.75 $38 The price-earnings ratio for 2020 is O 8.0 times. O 33.3 times. 0 4.8 times. 29.0 times

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