12 ! 1 of 2 Required information [The following information applies to the questions displayed below.) Financial Information for Forever 18 includes the following selected data (in millions): ($ in millions) 2018 2017 Net income $ 152 $ 128 Preferred stock dividends $ 26 $ 21 Average shares outstanding (in millions) 400 400 Stock price 11.57 $ 10.52 pped $ Book Hint Required: 1-a. Calculate earnings per share in 2017 and 2018. (Enter your answer in millions (.e. 5,500,000 should be entered as 5.5 rences (s in millions) Earnings per Share 2017 2018 13 Part 2 of 2 73 pints Required information The following information applies to the questions displayed below) Financial Information for Forever 18 Includes the following selected data (in millions): ($ in millions) 2018 2017 Net income 152 $ 128 Preferred stock dividends 26 $ 21 Average shares outstanding (in millions) 400 Stock price 11.57 $ 10.52 Skipped 400 eBook Hint P References 2-a. Calculate the price-earnings ratio in 2017 and 2018. (Enter your answer in millions rounded to 2 decimal places (ie. 5,550,000 should be entered as 5.55).) (s in millions) Price-Earnings Ratio 2017 2018 15 rt 2 of 2 Major League Apparel has two classes of stock authorized: 4%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2018, its first year of operations: January 2 Issue 120,000 shares of common stock for $53 per share. February 14 Issue 43,000 shares of preferred stock for $13 per share. May 8 Repurchase 12,000 shares of its own common stock for $43 per share. May 31 Reissue 6,000 shares of treasury stock for $48 per share. December 1 Declare a cash dividend on its common stock of $0.40 per share and a $17.200 (4% of par value) cash dividend on its preferred stock payable to all stockholders of record on December 15. The dividend is payable on December 30. (Hint Dividends are not paid on treasury stock.) December 30 Pay the cash dividends declared on December 1, 3 ts Skloped Book 2. Prepare the stockholders' equity section of the balance sheet as of December 31, 2018. Net Income for the year was $473,000, (Amounts to be deducted should be indicated by a minus sign.) Print ferences MAJOR LEAGUE APPAREL Balance Sheet (Stockholders' Equity Section) December 31, 2018 Stockholders' equity: 0 Total paid-in capital Total stockholders' equity $ 0