Sperle Corporation has provided the following data concerning its stockholders' equity accounts: Year 2Year 1Stockholders' equity: Common stock, $5 par value$400,000 $400,000 Additional paid-in capital 60,000 60,000 Retained earnings 654,000 630,000 Total stockholders' equity$1,114,000 $1,090,000 Net income for Year 2 was $30,400. Dividends on common stock during Year 2 totaled $6,400. The market price of common stock at the end of Year 2 was $3.08 per share.The company's price-earnings ratio for Year 2 is closest to:
A. 8.11
B. 5.70
C. 0.38
D. 4.53
Answer: A
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