Required Information [The following information applies to the questions displayed below.] Financial Information for a company includes the following selected data: ($ in millions except share data) Year 2 Year 1 Net income $ 120 $ 210 Dividends on preferred stock $ 30 $ 21 Average shares outstanding (in millions) 250 See Stock price $11.47 $10.42 Required: 1-a. Calculate earnings per share in Year 1 and Year 2. (Enter your answers in millions (L.e. 5.500.000 should be entered as 5.5).) Earnings Per Share Year 1 Year 2 1-b. Did earnings per share increase in Year 2? O Yes O No 2-a. Calculate the price-earings ratio In Year 1 and Year 2 (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).) Price-Earnings Ratio Year 1 Year 2 2-. In which year is the stock priced lower in relation to reported earnings? Year 1 Year 2