Wayne Co. had net income of $1,600,000 and paid dividends to common stockholders of $400,000 in 2022. The weighted average number of shares outstanding in 2022 was 500,000 shares. Wayne Co.'s common stock is selling for $40 per share on the NASDAQ, Wayne Co.'s price-earnings ratio is 3.2 times. 12.5 times. 4 times. 8 times.