20. (Learning Outcome 1 &2) Richardson Corp. had a net income for 2017 of $42,750. Richardson Corp. had 14,500 shares of common stock outstanding at the beginning of the year and 15,500 shares of common stock outstandinq as of Dec 31 2017. During the year they declared and paid preferred dividends ot?3000 The market price of Richardson Corp. common stock 's $15.00 per share. Compute the earnings per share and the price eamings ratio. You must show your calculations to recelve full credit for this problem. (Points: 6)