III Homework: Ch 13 Homework A-Graded Question 11, SF13-17 (similar to) HW Score: 50.28%, 59.33 of 118 points O Points: 0 of 10 Save BIM Corporation had net income for 2024 of $36,400 BIM had 2,400 shares of common stock outstanding at the beginning of the year and 20,000 shares of common stock outstanding as of December 31, 2024 During the year, BIM declared and paid preferred dividends of $5,040. Therefore, BIM's earnings per share for 2024 is $1.76. Assume the market price of BIM's common stock is $13.00 per share. Compute BIM's price/earnings ratio. Select the formula, then enter the amounts to calculate the company's price/earnings ratio as of December 31, 2024 (Abbreviations used. Ave. average, OS outstanding, SE = stockholders' equity, shrs shares. Round the ratio to two decimal places) Net income Preferred dividends Price/earnings ratio