The annual report of Tri minus State CarsTri$$State Cars$,$Inc$.,$ for the year ended December$31,20212021,$ included the following items$($in millions$)$:

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$1.$

Calculate earnings per share$($EPS$)$ and the$$ price$-$earnings ratio for Tri minus State CarsTri$$State Cars$\text{'}$ stock. Round to the nearest cent. The price of a share of the$$ company's stock is $ $23\mathrm{.}27$$$23\mathrm{.}27.$

$2.$

How much does the stock market say$$ $$1$ of Tri minus State CarsTri$$State Cars$\text{'}$ net income is$$ worth?

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Part $1$

$1.$Calculate earnings per share$($EPS$)$ and the$$ price$-$earnings ratio for Tri minus State CarsTri$$State Cars$\text{'}$ stock. Round to the nearest cent. The price of a share of the$$ company's stock is $ $23\mathrm{.}27$$$23\mathrm{.}27.$

Select the formulas and then calculate each ratio. $($Abbreviation used;$$ P$/$E $=$ Price$-$earnings. Round your answers to two decimal$$ places, X$.$XX$.)$

Ratio

Formula

Amount

EPS

P$/$E ratio

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Data table

Preferred stock outstanding, $5\%$

$$100$

Net income

$$400$

Average number of shares of common stock outstanding

$200$