Exhibit 6-1 Morgan Company Reported the Following Information for the Year

Exhibit 6-1 Morgan Company reported the following information for the year ended December 31, 2010:
$\begin{array}{ll}\text { Net income } & \$ 800,000 \\\text { Preferred dividends declared and paid } & 100,000 \\\text { Common dividends declared and paid } & 160,000 \\\text { Average common shares outstanding } & 140,000 \\\text { Ending market price per share } & 30 \\\text { Net sales } & 7,400,000\end{array}$
- Refer to Exhibit 6-1.Morgan's 2010 price/earnings ratio was

A) 0.17 times
B) 5.25 times
C) 6.00 times
D) 4.67 times