The balance sheet and income statement shown below are for Greshak Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over.Balance Sheet (Millions of $)Assets2010Cash and securities$ 1,554.0Accounts receivable9,660.0Inventories13,440.0Total current assets$24,654.0Net plant and equipment17,346.0Total assets$42,000.0Liabilities and EquityAccounts payable$ 7,980.0Notes payable5,880.0Accruals4,620.0Total current liabilities$18,480.0Long-term bonds10,920.0Total debt$29,400.0Common stock3,360.0Retained earnings9,240.0Total common equity$12,600.0Total liabilities and equity$42,000.0Income Statement (Millions of $)2010Net sales$58,800.0Operating costs except depr’n$54,978.0Depreciation$ 1,029.0Earnings bef int and taxes (EBIT)$ 2,793.0Less interest1,050.0Earnings before taxes (EBT)$ 1,743.0Taxes$ 610.1Net income$ 1,133.0Other data:Shares outstanding (millions)175.00Common dividends$ 509.83Int rate on notes payable & L-T bonds6.25%Federal plus state income tax rate35%Year-end stock price$ 77.69Based on the information above, what is the firm’s P/E ratio? MAKE SURE YOU USE AT LEAST 4 DECIMAL PLACES WHERE APPLICABLE. YOU MUST TYPE IN ANSWER AND ALL OF YOUR WORK TO RECEIVE CREDIT.The balance sheet and income statement shown below are for Greshak Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over.Based on the information above, what is the firm’s P/E ratio? MAKE SURE YOU USE AT LEAST 4 DECIMAL PLACES WHERE APPLICABLE. YOU MUST TYPE IN ANSWER AND ALL OF YOUR WORK TO RECEIVE CREDIT.