Net income $ 209,600 Preferred stock outstanding, 12% cumulative $ 80,000 Market price per share of common stock $ 24.00 Total Stockholders' Equity $ 1,240,000 Average number of common shares outstanding 100,000 shares Number of common shares outstanding at end of the accounting period 120,000 shares Dividends per share on common stock $ 0.50 per share.
Based on this information the company's price-earnings ratio:
(a). 5 to 1
(b). 12 to 1
(c). 2 to 1
(d). 10 to 1
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