Last year,Alfred's Automotive had a price-earnings ratio of 15 and earnings per share of $1.20.This year,the price-earnings ratio is 18 and the earnings per share is $1.20.Based on this information,it can be stated with certainty that:

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The price-earnings (P/E) ratio is calculated by dividing the market price per share by the earnings per share (EPS). An increase in the P/E ratio from 15 to 18, while the EPS remains constant at $1.20, indicates that the market price per share has increased. This suggests that investors are willing to pay more for each dollar of earnings, typically reflecting an improved outlook for the firm's future earnings and performance.

Last Year,Alfred's Automotive Had a Price-Earnings Ratio of 15 and Earnings