Submarine Corp. earned net income of $133,850 and paid the minimum dividend to preferred stockholders for 2024. Assume that there are no changes in common shares outstanding during 2024. Submarine's books include the following figures: E (Click the icon to view the figures.) Read the reguirements. .... Requirement 1. Compute Submarine's EPS for the year. Select the formula, then enter the amounts to calculate the company's earnings per share for 2024. (Abbreviations used: Ave. = average, OS = outstanding, SE = stockholders' equity, shrs = shares. Enter the earnings per share to the nearest cent.) Net income Preferred dividends Ave. # common shrs OS Earnings per share 2$ 133,850 600 53,300 2$ 2.50 Requirement 2. Assume Submarine's market price of a share of common stock is $8 per share. Compute Submarine's price/earnings ratio. Select the formula, then enter the amounts to calculate the company's price/earnings ratio for 2024. (Abbreviations used: Ave. = average, OS = outstanding, SE = stockholders' equity, shrs = shares. Enter the ratio to two decimal places.) Net income - Earnings per share Price/earnings ratio Data table Preferred Stock-2%, $30 par value; 2,000 shares authorized, 1,000 shares issued and outstanding Common Stock-$5 par value; 85,000 shares authorized, 55,000 shares issued, 53,300 shares outstanding $ 30,000 275,000 Paid-In Capital in Excess of Par-Common 480,000 Treasury Stock-Common; 1,700 shares at cost (34,000)