Tidepool Corp. earned net income of $156,450 and paid the minimum dividend to preferred stockholders for 2018. Assume that there are no changes in common shares outstanding during 2018. Tidepool's books include the followingfigures:

Data Table

Preferred Stock3%, $35 par value; 2,000 shares authorized, 1,000 shares

issued and outstanding

$

35,000

Common Stock$1 par value; 90,000 shares authorized, 53,000 shares

issued, 51,800 shares outstanding

53,000

Paid-In Capital in Excess of ParCommon

490,000

Treasury StockCommon; 1,200 shares at cost

(24,000)

Requirements

1.Compute Tidepool's EPS for the year.

2.Assume Tidepool's market price of a share of common stock is $9 per share. Compute Tidepool's price/earnings ratio.