The annual report of Classic Cars Inc. for the year ended December 31, 2020, included the following items (in thousands):

1. Compute earnings per share (EPS) and the price/earnings ratio for Classic Cars's common shares. Round to the nearest cent. The price of a common share of Classic Cars is \(\$ 77.60\)
2. How much does the stock market say \(\$ 1\) of Classic Cars's net income is worth?

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Preferred shares outstanding, $4; 5,000 issued.. Net income......... Number of common shares outstanding. $500 $990 200