The annual report of Classy Cars Inc. for the year ended December $31,20$XX$,$ included the items shown $($in thousands$).$

View the annual report.

Read the requirements.

Requirement $1.$ Compute earnings per share $($EPS$)$ and the price$/$earnings ratio for Classy Cars's common shares. Round to the nearest cent. The price of a common share of Classy Cars is $$77\mathrm{.}90.($Enter amounts in thousands as provided in the problem statement. Round your answer to the nearest cent.$)$

$\backslash$table$[[1,$Net income,,Preferred dividends,$),,\backslash$table$[[$Number of common$],[$shares outstanding$]],=,$EPS$],[,1,200,,700,1),,,=,0\mathrm{.}91]]$

You will now calculate the price$/$earnings $($P$/$E$)$ ratio. $($Round your answers to two decimal places.$)$

$\backslash$begin$\{$aligned$\}$

$\backslash$table$[[$Market price per$],[$common share$]],$ EPS & $(=\backslash$mathrm$\{$P$\}/\backslash$mathrm$\{$E$\}\backslash$

& $\backslash$div$\backslash$end$\{$aligned$\})$

Requirement $2.$ How much does the stock market say $$1$ of Classy Cars's net income is worth? $($Round your answer to the nearest cent.$)$

Amount stock market says that $$1$ of Classy Cars's net income is worth:

Annual report

Preferred shares outstanding, $$3$;$8,000$ issued

$$700$

Net income

$$1,200$

Number of common shares outstanding

$550$