Earnings par Share and Price-Earnings Ratio A company reports the following $942,000 Net income $53,000 Preferred dividends Shares of common stock outstanding 70,000 Market price per share of common stock 5151.13 a. Determine the company's earnings per share on common stock. Round your answer to the nearest cant. Use the rounded answer of requirement a for subsequent requirement, if required. b. Determine the company's price-eamings ratio. Round to one decimal place