#19 and #20 please

nings 1&3) 24 ce-earnings ratio 2) Technology earn during 2010, and what would earnings per share be if 40,000 shares of common stock were outstanding? 18. Botox Facial Care had earnings after taxes of $280,000 in 2009 with 200,000 shares of stock outstanding. The stock price was $30.80. In 2010, earnings after taxes increased to $320,000 with the same 200,000 shares outstanding. The stock price was $40.00. a. Compute earnings per share and the P/E ratio for 2009. The P/E ratio equals the stock price divided by earnings per share. b. Compute earnings per share and the P/E ratio for 2010. Give a general explanation of why the P/E ratio changed. 19. Assume for Botox Facial Care discussed in Problem 18 that in 2011, earnings after taxes declined to $140,000 with the same 200,000 shares outstanding. The stock price declined to $24.50. a. Compute earnings per share and the P/E ratio for 2011. b. Give a general explanation of why the P/E changed. You might want to consult the textbook discussion of price-earnings ratios to explain this sur- prising result. 20. Identify whether each of the following items increases or decreases cash flow: C. -earnings ratio OW Increase in accounts receivable Increase in notes payable Depreciation expense Increase in investments Decrease in accounts payable Decrease in prepaid expenses Increase in inventory Dividend payment Increase in accrued expenses 21 The Jupiter Corporation has