The following information pertains to Cheng Company. Assume that all statement of financial position amounts represent both average and ending balance figures. Assume that all sales were on credit. All amounts are in thousands except per share items. 
What is the price-earnings ratio for Cheng?
Definitions:
Hamer v. Sidway
A landmark 1891 New York Court of Appeals case that established the principle of forbearance (refraining from an action) as valuable consideration in contract law.
Promissory Estoppel
A legal principle that prevents a party from withdrawing a promise made to another party if the latter has relied on that promise to their detriment.
Consideration
In contract law, something of value given by both parties to a contract that induces them to enter into the agreement to exchange mutual performances.
Illusory Promises
Commitments made in a contract that are vague or unenforceable because they do not bind the promisor to a specific action.
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