Required information [The following information applies to the questions displayed below.) Financial information for Forever 18 includes the following selected data (in millions): $ $ 2018 182 34 2017 $ 164 $ 25 ($ in millions) Net income Dividends on preferred stock Average shares outstanding in millions) Stock price 200 $ 11.27 200 $ 10.22 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 (i.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? 2017 2018