Gullo Company reported these figures for 2024 and 2023:

Requirements
1. Compute Gullo Company’s earnings per share for 2024. Assume the company paid the minimum preferred dividend during 2024. Round to the nearest cent.
2. Compute Gullo Company’s price/earnings ratio for 2024. Assume the company’s market price per share of common stock is $9. Round to two decimals.
3. Compute Gullo Company’s rate of return on common stockholders’ equity for 2024. Assume the company paid the minimum preferred dividend during 2024. Round to the nearest whole percent.

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Income Statement-partial: Net Income Balance Sheet-partial: Total Assets Paid-In Capital: Preferred Stock-11%, $9 Par Value; 60,000 shares authorized, 10,000 shares issued and outstanding Common Stock-$1 Par Value; 45,000 shares authorized, 30,000 shares issued and outstanding Paid-In Capital in Excess of Par-Common Retained Earnings Total Stockholders' Equity 2024 $ 18,900 Dec. 31, 2024 $ 285,000 $ 90,000 30,000 14,000 51,000 $ 185,000 2023 $ 24,000 Dec. 31, 2023 $ 200,000 $ 90,000 30,000 14,000 42,000 $ 176,000