Calculate earnings per share in 2014 and 2015.

Financial information for Forever 18 includes the following selected data (in millions)($ In millions)20152014Net Income171201Dividends on preferred stock2116Average shares outstanding (In millions)228300Stock price11.9710.92Required:1-a. Calculate earnings per share in 2014 and 2015. (Enter you answers in millions.)1-b. Did earnings per share increase in 2015?· No· Yes2-a. Calculate the price-earnings ratio in 2015 and 2015. (Enter your answer in millions. Round your answers to 2 decimal places.)2-b. In which year is the stock period lower in relations to reported earnings?· 2014· 2015