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Calculate the weighted-average number of common shares

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Question

Liberty Ventures Inc. reported $209,840 profit in 2017 and declared preferred dividends of $34,400. The following changes in common shares outstanding occurred during the year:

Jan 1. 60,000 common shares were outstanding

June 30. Sold 20,000 common shares.

Sept.1. Declared and issued a 20 % common share dividend

Nov. 2. Sold 12,000 common shares.

Calculate the weighted-average number of common shares outstanding during the year and earnings per share. (Round EPS calculations to two decimal places)

Reference no: EM132315517

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