Data for Johnson State Bank follow: (Click the icon to view the data.) Evaluate the common stock of Johnson State Bank as an investment. Specifically, use the three stock ratios to determine whether the common stock has increased or decreased in attractiveness during the past year. Round to two decimal places. Begin by selecting the formula to calculate the price/earnings ratio. Price/earnings ratio = Market price per share of common stock + Earnings per share Now, calculate the price/earnings ratio for 2024 and 2023. (Round interim calculations to the nearest cent, $X.XX and your answers to two decimal places, X.XX.) Price/earnings ratio 2024 2023 2024 2023 Net Income $ 62,300 $ 55,100 Dividends-Common 26,000 26,000 Dividends-Preferred 15,500 15,500 Total Stockholders' Equity at Year-End (includes 90,000 shares of common stock) 770,000 610,000 Preferred Stock 230,000 230,000 Market Price per Share of Common Stock $ 16.50 $ 11.00 Print Done