L.B. Jay has net income of $38,000, total assets of $437,000, total liabilities of $208,000, and a price-book ratio of 3.8. There are 60,000 shares of stock outstanding. What is the firm's price-earnings ratio?
A)18.72
B)19.11
C)19.28
D)20.80
E)22.90

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The Answer of L.B. Jay has net income of $38,000, total assets of $437,000, total liabilities of $208,000, and a price-book ratio of 3.8. There are 60,000 shares of stock outstanding. What is the firm's price-earnings ratio?
A)18.72
B)19.11
C)19.28
D)20.80
E)22.90

LB Jay Has Net Income of $38,000, Total Assets of $437,000