Earnings per Share and Price$-$Earnings Ratio

A company reports the following:

Net income $$185,000$

Preferred dividends $$25,000$

Shares of common stock outstanding $100,000$

Market price per share of common stock $$20$

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

$fill in the blank $1$

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

fill in the blank $2$