Spincic Corporation has provided the following data: Year 2Year 1Common stock, $2 par value$200,000 $200,000 Net operating income$66,769 Net income before taxes$50,769 Net income$33,000 The market price of common stock at the end of Year 2 was $4.13 per share.The company's price-earnings ratio for Year 2 is closest to:
A. 12.52
B. 6.16
C. 0.52
D. 8.10
Answer: A
Business
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