Use this information for Kellman Company to answer the question that follow. The balance sheets at the end of each of the first 2 years of operations indicate the following: V Total current assets Total investments Kellman Company Total property, plant, and equipment Total current liabilities Total long-term liabilities Preferred 9% stock, $100 par Common stock, $10 par Paid-in capital in excess of par-Common stock Retained earnings Year 2 Year 1 $617,600 $588,200 65,900 48,300 930,800 761,600 104,700 85,900 314,000 235,000 97,000 97,000 516,800- 516,800 69,400 69,400 512,400 394,000 Using the balance sheets for Kellman Company, if net income is $107,800 and interest expense is $40,700 for Year 2, and the market price of common shares is $45, what is the price-earnings ratio on common stock for Year 27 (Round intermediate calculation and final answer to two decimal places.) b. 936 1.92 d. 949 Check My Work 1 more Check My Work uses remaining Previous Next Submit Test for Grading