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Problem 1: Lark had net income for 2024 of $109,000. Lark had 32,000 shares of common stock outstanding at the beginning of the year and 49,000 shares of common stock outstanding at the end of the year. There were 8,000 shares of preferred stock outstanding all year. During? 2024, Lark declared and paid preferred dividends of $28,000. On December? 31, 2024, the market price of? Lark's common stock is $35 per share and the market price of its preferred stock is $54 per share. What is? Lark's price/earnings ratio at December? 31, 2024?
A: 17.5B: 15.73C: 27D:13
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