[The following information applies to the questions displayed below.] Financial information for Forever 18 includes the following selected data (in millions):

($ in millions)	2018		2017
Net income	$	210	$	180
Dividends on preferred stock	$	25	$	20
Average shares outstanding (in millions)		240		220
Stock price	$	11.52	$	10.47

2-a. Calculate the price-earnings ratio in 2017 and 2018. (Enter your Price-earning ratio values to two decimal places. Enter your answers in millions (i.e. 5,550,000 should be entered as 5.55).) ($ in millions) Price-Earnings Ratio 2017 2018 2-b. In which year is the stock priced lower in relation to reported eamings? 2017 2018