On December 31 . 2013 and 2014, Tomlin Corporation had 100,000 shares of common stock and 50,000 shares of noncumulative and nonconvertible preferred stock issued and outstanding. Additional information: Stockholders' equity at 12/31/2014 .................... $4,500,000 Net income year ended 12/31/2014 ...................... 1,200,000 Dividends on preferred stock year ended 12/31/2014
300,000 Market price per share of common stock at 12/31/2014 .. 144 The price-earnings ratio on common stock at December 31 . 2014, was
a. 10 to 1.
b. 12 to 1.
c. 14 to 1.
d. 16 to 1.
B
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