Richardson Corp. had a net income for 2016 of $40,000. Richardson Corp. had 14,500 shares of common stock outstanding at the beginning of the year and 15,000 shares of common stock outstanding as of Dec. 31, 2016. During the year they declared and paid preferred dividends of $3000. The market price of Richardson Corp. common stock is $16.00 per share. Compute the earnings per share and the price/earnings ratio. You must show your calculations to receive full credit for