Cornerstone Exercise 10-37 (Algorithmic) Stockholder Profitability Ratios The following information pertains to Montague Corporation: Net income $ 47,000 $1,500,000 Average common equity Preferred dividends Average common shares outstanding $7,500 100,000 Required: Calculate the return on common equity and the earnings per share. Round your answers to two decimal places. Return on common equity 3 X % Earnings per share 0.47 X per share Feedback Check My Work Return on common equity measures the earnings after preferred dividends, in proportion to common equity. Earnings per share measures the earnings after preferred dividends, for each share of common stock