question content area the balance sheets at the end of each of the first two years of operations indicate the following: kellman company line item description year 2 year 1 total current assets $628,775 $554,886 total investments 62,831 41,549 total property, plant, and equipment 856,287 783,951 total current liabilities 111,485 88,899 total long-term liabilities 301,903 247,664 preferred 9% stock, $100 par 90,315 90,315 common stock, $10 par 597,565 597,565 paid-in capital in excess of par-common stock 65,010 65,010 retained earnings 381,615 290,933 using the balance sheets for kellman company, if net income is $102,981 and interest expense is $33,029 for year 2, and the market price of common shares is $43, what is the price-earnings ratio on common stock for year 2 (rounded to two decimal places)?
