Earnings per Share and Price-Earnings Ratio A company reports the following: Net income $246,500 Preferred dividends $14,000 Shares of common stock outstanding 15,000 Market price per share of common stock 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. $217 $ b. Determine the company's price-earnings ratio. Round to one decimal place