Presented Below Are Selected Data from the Financial Statements of Parade

question 32

Multiple Choice

Presented below are selected data from the financial statements of Parade Corp. $\begin{array}{lrr}&{2016}&{\mathbf{2 0 1 7}} \\\text { Net income } & \$ 150,000 & \$ 123,000 \\\text { Weighted average number of common shares outstanding } & 105,000 & 95,000 \\\text { Market price per share of common stock at the end of the year } & \$ 12.00 & \$ 10.00\end{array}$ The price/earnings ratio for 2017 is

• A) .80 to 1
• B) 1.43 to 1
• C) 8.39 to 1
• D) 12.50 to 1