As a shareholder of an oil company, you receive its annual report. In the financial statements, the firm reported assets

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As a shareholder of an oil company, you receive its annual
report. In the financial statements, the firm reported assets of
$11 million, liabilities of $7 million, after-tax earnings of $2
million, and 755,000 outstanding shares of common stock. a.
Calculate the earnings per share of this oil company’s common
stock. (Round your answer to 2 decimal places. Omit the "$" sign in
your response.) Earnings per share $ b. Assuming a share of this
oil company’s common stock has a market value of $40, what is the
firm’s price–earnings ratio? (Round your intermediate calculations
to 2 decimal places and final answer to the nearest whole number.)
Price-earnings ratio