Mountain Top Markets Has Total Assets of $48,700,net Working Capital

Multiple Choice

Mountain Top Markets has total assets of $48,700,net working capital of $1,100,and retained earnings of $21,200.The firm has 12,500 shares of stock outstanding with a par value of $1 per share and a market value of $7.10 per share.The stock was originally issued to the firm's founders at par value.What is the market-to-book ratio?

A) 3.19
B) 2.22
C) 2.78
D) 3.03
E) 2.63