Question: Bastion Computer Corp., a technology support company providing security for small businesses, reported these summarized figures (in millions): Bastion Computer Corp. Income Statement For the

Bastion Computer Corp., a technology support company providing security for small businesses, reported these summarized figures (in millions):

Bastion Computer Corp.
Income Statement
For the Year Ended December 31, 2020
Net sales $61.60
Cost of goods sold 42.4
Interest expense 0.6
All other expenses 15
Net income $3.60

Bastion Conputer Corp.
Balance Sheet
31-Dec-20
Assets 2020 2019 Liabilities and Equity 2020 2019
Cash $2.80 $1.60 Total current liabilities $8.80 $7.20
Short-term investments 0.4 0.5 Long-term liabilities 8.6 8.3
Accounts receivable 0.5 0.4 Total liabilities 17.4 15.5
Inventory 9.2 8
Other current assets 0.8 0.6 Common shares 5.2 4.8
Total current assets 13.7 11.1 Retained earnings 15.7 11.8
All other assets 24.6 21 Total equity 20.9 16.6
Total assets $38.30 $32.10 Total liabilities and equity $38.30 $32.10

Use the financial statements of Bastion

Computer Corp., plus the following item (in millions):Number of common shares outstanding

.......................0.8

1. Compute earnings per share (EPS) for Bastion Computer Corp. Round to the nearest cent.

2. Compute Bastion Computer Corp.'s price/earnings ratio. The price of a Bastion Computer Corp. common share is $131.00.

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