The following information pertains to Marigold Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments $ 40000 Accounts receivable (net) 34000 Inventory 25000 Property, plant and equipment (net) 210000 Total Assets $309000 Liabilities and Stockholders’ Equity Current liabilities $ 61000 Long-term liabilities 70000 Stockholders’ equity—common 178000 Total Liabilities and Stockholders’ Equity $309000 Income Statement Sales (net) $ 90000 Cost of goods sold 42000 Gross profit 48000 Operating expenses 12000 Net income $ 36000 Number of shares of common stock 8000 Market price of common stock $18 Dividends per share 0.80 What is the price-earnings ratio for Marigold?