General Motors Company (GM) is one of the world’s largest automobile manufacturing companies. The following data were taken from the company’s 2019 annual report.

Required
a. Compute GM’s price-earnings ratio for February 6, 2020, and February 7, 2018.
b. Did the financial markets appear to be more optimistic about GM’s future performance on February 6, 2020, or February 7, 2019?
c. Based on the information provided, estimate approximately how many shares of stock GM had outstanding as of December 31, 2019.

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Net earnings (in millions) Earnings per share The following data were taken from public stock-price quotes: Stock price per share on February 6, 2020 (The day after GM released its 2019 annual report.) Stock price per share on February 7, 2019 (The day after GM released its 2018 annual report.) Fiscal Years Ending December 31, December 31, 2019 2018 $6,732 $ 4.62 $8,014 $ 5.66 $34.37 $38.65