9) Craigco had Net Profit of $450,000 in 2019 with 120,000 outstanding shares. On January 15 2020 they issued 30,000 new shares and their net profit increased by 20%. a) Calculate EPS for 2019 and 2020 b) Assuming they issued $50,000 in dividends each year, calculate the payout ratio for 2019 and 2020. How much did retained earnings increase each year? c) If the share price is $45.15 in 2019 and $50.25 in 2020 calculate the price earnings ratio. Explain why the Price earnings ratio changed