Required information [The following information applies to the questions displayed below.) Financial information for Forever 18 includes the following selected data (in millions): ($ in millions) 2018 2017 Net income $ 210 $ 180 Dividends on preferred stock $ 25 $ 20 Average shares outstanding in millions) 240 220 Stock price $ 11.52 $ 10.47 2-a. Calculate the price-earnings ratio in 2017 and 2018. (Enter your Price-earning ratio values to two decimal places. Enter your answers in millions (.e. 5,550,000 should be entered as 5.55).) ($ in millions) Price-Earnings Ratio 2017 2018 2-b. In which year is the stock priced lower in relation to reported earnings? O 2017 O 2018