Question: I need assistance with this general accounting question using appropriate principles. Calloway's has $945,000 in sales. The profit margin is 4.2 percent and the firm

I need assistance with this general accounting question using appropriate principles.

Calloway's has $945,000 in sales. The profit margin is 4.2 percent and the firm has 6,800 shares of stock outstanding. The market price per share is $18. What is the price-earnings ratio? a) 2.89 b) 3.08 c) 3.43 d) 3.56

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