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 2024 2023 $160 $171 $22 $17 250 300 $11.92 $10.87 2-a. Calculate the price-earnings ratio in 2023 and 2024. 2-b. In which year is the stock priced lower in relation to reported earnings? Complete this question by entering your answers in the tabs below. Req 2a Req 2b Calculate the price-earnings ratio in 2023 and 2024. (Enter your price-earnings ratio values to two decimal places. Enter your answers in millions (i.e. 5,550,000 should be entered as 5.55).) Price-Earnings Ratio 2023 2024 Numerator/Denominator Amounts < Req 2a Req 2b >