Matthias Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2019 and 2020 follow. 2019 Matthias Medical Comparative Balance Sheet As of December 31 2020 Assets Current assets Cash $397 220 Accounts receivable, net 906.800 Inventory 743,000 Other current assets 381.300 Total current assets 2.428,320 Property, plant, & equipment.net 8.678,000 Total assets $11. 106,320 $417 400 776,400 681.000 247.000 2,121.800 8.440.100 $10.561.900 Liabilities and Stockholders' Equity Current liabilities Long-term debt Total liabilities Preferred stock S5 par value Common stock 50.25 par value Retained earnings Total stockholders' equity $2.934.700 3.700.600 6.635.300 59.900 104.600 4.607 520 4471.0201 $2.846,000 3.892,600 6.738.600 58.900 103.800 3.660.600 3,823.300 IU.OUW , LUITUTIUITSLUN, DUZ par value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 4,307 520 4,471,020 $11,106,320 3.660.600 3,823,300 $10,561.900 Matthias Medical Comparative Income Statement and Statement of Retained Earnings For the Year 2020 2019 Sales revenue (all on account) $10,177 200 $9.613.900 Cost of goods sold 5.411.800 5.298,700 Gross profit 4.765.400 4.315,200 Operating expenses 2.899.900 2.634 100 Net operating income 1865.500 1.681 100 Interest expense 300,300 308,600 Net income before taxes 1,565 200 1.872.500 Income taxes (3096) 469,560 411,750 Net income $1.095,640 $960.750 Dividends paid Preferred dividends 29 450 29 450 Common dividends 419 2170 413.000 Tota dividends paid 448.720 442.450 Net income retained 646.920 518.300 Retained earnings beginning of year 3.660.600 3.142,300 Retained earnings, end of year $4 BOT 520 $13.660.600 Calculate the earnings per share (average of 420,000 shares outstanding for the year) for 2020. (Round answer to 2 decimal ploces, eg. 2.55.) Earning per share $ 2.54 per share e Textbook and Media Attempts: unlimited (b) Calculate the pricelearnings ratio (market price of $48 at year-end) for 2020. (Round answer to 1 decimal place, eg. 25.) Price learnings ratio