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The following amounts were taken from the financial statements of Crane Company: 2020 2019 Total assets $780000 $980000 Net sales 760000 670000 Gross profit 355000

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The following amounts were taken from the financial statements of Crane Company: 2020 2019 Total assets $780000 $980000 Net sales 760000 670000 Gross profit 355000 380000 120000 115000 Net income Weighted average number of common shares outstanding Market price of common stock 40000 98000 $75.00 $42 The price earnings ratio for 2020 is 3.9 times. O 39.0 times 3.0 times. 25.0 times

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