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A company reports the following: Net income $687,000 Preferred dividends $39,000 Shares of common stock outstanding 80,000 Market price per share of common stock $37.26

A company reports the following:

Net income $687,000
Preferred dividends $39,000
Shares of common stock outstanding 80,000
Market price per share of common stock $37.26

a. Determine the company's earnings per share on common stock. Round your answer to the nearest cent. Use the rounded answer of requirement a for subsequent requirement, if required. $

b. Determine the company's price-earnings ratio. Round to one decimal place.

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