The following information pertains to Skysong, Inc. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit.

Assets
Cash and short-term investments	$ 50700
Accounts receivable (net)	35800
Inventory	25300
Property, plant and equipment	212000
Total Assets	$ 323800
Liabilities and Stockholders Equity
Current liabilities	$ 53300
Long-term liabilities	91900
Stockholders equitycommon	178600
Total Liabilities and Stockholders Equity	$ 323800
Income Statement
Sales revenue	$ 107000
Cost of goods sold	71500
Gross margin	35500
Operating expenses	15500
Net income	$ 20000
Number of shares of common stock	5000
Market price of common stock	$ 15
Dividends per share on common stock	0.60
Cash provided by operations	$ 30000

What is the price-earnings ratio for this company?

1.3 times

3.8 times

2.3 times

1.7 times