Step by step solution required for these two questions

Question 1 O out of 0.5 points The common stock of Rob's Discount Furniture is currently selling at $65.06 a share. The company adheres to a 60% dividend payout ratio and has a P/E ratio of 19. There are 40,000 shares of stock outstanding. What is the amount of the annual net income for the firm? Selected Answer: 4,337,333.33 Correct Answer: 136,968.42 +0.01 Question 2 O out of 0.5 points Global Warning's EPS for the current year is $2.73 and its current P/E ratio is 46. You have forecasted that EPS will grow by 10% but the P/E ratio will fall to 42. What do you expect the price of a share of GW's stock to be at the end of next year? Selected Answer: 125.58 Correct Answer: 126.13 +0.01