Financial information for Forever 18 includes the following selected data:($ in millions)                                 2021               2020Net income                                   $ 129                $ 308Dividends on preferred stock        $ 20                  $ 15Average shares outstanding           150                   400Stock price                                  $ 12.02              $ 10.97Required:1. Calculate earnings per share in 2020 and 2021. Did earnings per share increase in 2021?2. Calculate the price-earnings ratio in 2020 and 2021. In which year is the stock priced lower in relation to reported earnings?

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