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phelps Labs has assets of $455,000, current liabilities of $66,000, and long-term liabilities of $99,000....

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Finance

phelps Labs has assets of $455,000, current liabilities of $66,000, and long-term liabilities of $99,000. There is $36,800 in preferred stock outstanding; 20,000 shares of common stock have been issued. Earnings available to common shareholders are $27,200. If the firm sells at two times book value per share, what will the P/E ratio be? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) P/E ratio times

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