Using the information from S12-8, a market price of $34 per share, and 50,000 and 60,000 shares of common stock outstanding in 2015 and 2016, respectively, compute the following for 2016. Round answers to two decimal places.

1. Earnings per share

2. Price-earnings ratio

data from S12-8,

The 2016 financial statements for Inland Supply, Inc., show total assets of $572,000, total liabilities of $322,500, net sales of $1,276,000, net income of $191,400, income from operations of $227,600, cost of goods sold of $743,600, dividends of $24,600, and interest expense of $18,700. Total assets and total liabilities for 2015 were $513,000 and $314,500, respectively.