Submarine Corp. earned net income of $75,650 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: (Click the icon to view the figures.) Read the requirements. 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.) Data table = Earnings per share Requirements Preferred Stock-5%, $40 par value; 2,000 shares authorized, 1,000 shares issued and outstanding $ 40,000 1. Compute Submarine's EPS (Earnings Per Share) for the year. Common Stock-$2 par value; 110,000 shares authorized, 51,000 shares issued, 49,100 shares outstanding He Paid-In Capital in Excess of Par-Common 102,000 450,000 2. Assume Submarine's market price of a share of common stock is $6 per share. Compute Submarine's price/earnings ratio. Treasury Stock-Common; 1,900 shares at cost (38,000)