Earnings per Share and Price-Earnings Ratio A company reports the following: 1 Net income Preferred dividends Shares of common stock outstanding $382,000 $22,000 25,000 Market price per share of common stock $159.84 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. b. Determine the company's price-earnings ratio. Round to one decimal place.