The following balances and amounts were taken from the financial statements of Frisbee, Inc. The items are presented in alphabetical order. Accounts payable Accounts receivable $35,000 47,500 Cash 180,000 Number of common shares 8,000 Gross profit 185,000 Market price per share 8 Net sales 500,000 Other current liabilities 22,000 Net income 64,000 Salaries payable 10,000 The price-earnings ratio is 02 O 1.5. O 1. O 12 L