The following amounts were taken from the financial statements of Ando Company 2017 $800,000 720,000 352,000 108,000 2016 Total assets Net sales Gross profit Net income Weighted average number of $1,000,000 650,000 117,000 90,000 common shares outstandin 90,000 Market price of common stock $42 $39 The price-earnings ratio for 2017 is ) 1) 35 times. 2) 30 times. )3) 42 times. 4) 3 times