The following balance sheets at the end of each of the first two years of operations indicate

Question:

The following balance sheets at the end of each of the first two years of operations indicate the following:
Total current assets:
2010- $600,000 2009- $560,000
Total investments:
2010- 60,000 2009- 40,000
Total property, plant, and equipment:
2010- 900,000 2009- 700,000
Total current liabilities:
2010- 125,000 2009- 80,000
Total long-term liabilities:
2010- 350,000 2009- 250,000
Preferred 9% stock, $100 par
2010- 100,000 2009- 100,000
Common stock, $10 par
2010- 600,000 2009- 600,000
Paid-in capital in excess of par-common stock:
2010- 60,000 2009- 60,000
Retained earnings:
2010- 325,000 2009- 210,000
If net income is $115,000 and interest expense is $30,000 for 2012, and the market price is $30, what is the price-earnings ratio on for 2012 (round to one decimal point)?
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...