Recent year-end market price and financial statement information for Wal-Mart Stores, Inc., the largest retailer in the world, is provided as follows:

a. How has the market price of Wal-Mart compared to earnings per share for 2002–2004? Round to two decimal places.
b. What information should be reported to compare earnings over time and acrosscompanies?

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Year 2004 2003 2002 Year-End Market Price per Share $52.33 51.33 48.75 Net Income (basic, millions) 10,267 9,054 7,955 Common Stock Dividend per Share $0.52 0.36 0.30 Number of Common Shares Outstanding (weighted, millions) 4,259 4,363 4,430