$3.$ An extract from a big$-$box retailer$$s $2020$ financial statements follows:

Income statement

Year ended December $31,2020$

Year ended December $31,2019$

Net income

$12,866$

$11,242$

Preferred stock dividend

$0$

$0$

Balance sheet

As of December $31,2020$

As of December $31,2019$

Common shares issued and outstanding

$1,077$

$1,077$

What was the big$-$box retailer$$s price earnings ratio for $2020$ given a per share price of $$318?$

Solution: