Citigroup, Inc., one of the largest financial services firms in the world, disclosed the following retained earnings information in its statement of stockholders' equity:

The average common shares for determining basic earnings per share for the three most recent years were as follows:
2004: 5,107.2
2003: 5,093.3
2002: 5,078.0
Total common stockholders' equity and the stock price at year-end were as follows:

a. Determine the earnings per common share for all three years. Round to two decimal places.
b. Determine the book value per common share for all three years. Round to two decimal places.
c. Determine the price-earnings ratio for all three years. Round to two decimal places.
d. Determine the price-book ratio for all three years. Round to two decimal places.
e. Interpret the trend in price-earnings and price-book ratios for the threeyears.

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2004 2003 2002 Retained earnings balance, beginning of year Net income Common dividends Preferred dividends 93,483 81,403 69,803 17,046 (8,307) 17,853 (5,702) 15,276 (3,593) 71) (83) Balance, end of year $102,154 93,483 81,403 Dec. 31, 2004 $108,166 Dec. 31, 2003 $96,889 48.54 Dec. 31, 2002 Common stockholders' equity Common stock price $85,318 32.83 48.18