Required information [The following information applies to the questions displayed below.] Financial information for Forever 18 includes the following selected data: (s in millions) Net income Dividends on preferred stock Average shares outstanding Stock price 2024 $156 $23 300 $11.87 2023 $188 $18 400 $10.82

Required information [The following information applies to the questions displayed below.] Financial information for Forever 18 includes the following selected data: Calculate the price-earnings ratio in 2023 and 2024. (Enter your price-earnings ratio values to two decimal places, Enter your answers in millions (1.e. 5,550,000 should be entered as 5.55 ).) Complete this question by entering your answers in the tabs below. In which year is the stock priced lower in relation to reported earnings? In which year is the stock priced lower in relation to reported earnings