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Determine what is the earnings per share for the year

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A company reported $514,300 of profit for 2020. It also declared $74,000 of dividends on preferred shares for the same year. At the beginning of 2020, the company had 90,000 outstanding common shares.

These three events changed the number of outstanding shares during the year:

June 1 Sold 39,000 common shares for cash.

Aug. 31 Purchased and retired 35,000 common shares.

Oct. 1 Completed a three-for-one share split.

Question a. What is the amount of profit available for distribution to the common shareholders

Question b. What is the weighted-average number of common shares for the year?

Question c. What is the earnings per share for the year?

Reference no: EM132490738

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