Question: Frick & Frack has total assets (TA) of $1,230,500 and total asset turnover (TAT) of 1.4. The firm has a profit margin (PM) of 10.2 percent. There are 35,000 shares of stock outstanding with a market value of $32 a share. What is the price-earnings (P/E) ratio? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.