Required information [The following information applies to the questions displayed below.] Financial information for Forever 18 includes the following selected data: ($ in millions) Net income Dividends on preferred stock Average shares outstanding Stock price 2-a. Calculate the price-earnings ratio in 2023 and 2024. 2024 2023 $170 $154 $25 $16 200 200 $11.07 $10.02 2-b. In which year is the stock priced lower in relation to reported earnings