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The following information was available for the year ended December 31, 2022: Net income $40,000 Average total assets 500,000 Dividends per share 1.20 Earnings per

The following information was available for the year ended December 31, 2022: Net income $40,000 Average total assets 500,000 Dividends per share 1.20 Earnings per share 2.50 Market price per share at year-end 40.00 The price/earnings ratio for 2022 was: 10.0. 14.0. 16.0. 20.0

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