[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	$	160	$	171
Dividends on preferred stock	$	22	$	17
Average shares outstanding (in millions)		250		300
Stock price	$	11.92	$	10.87

2-a. Calculate the price-earn ings ratio in 2017 and 2018. (Enter your Price-earning ratio values to two decimal (S in millions) Price-Earnings Ratio 2017 2018 2-b. In which year is the stock priced lower in relation to reported earnings? O 2017 2018