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What is the weighted-average number of common shares

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A company reported $256,785 of profit for 2020. It also declared $40,000 of dividends on preferred shares for the same year. At the beginning of 2020, the company had 56,000 outstanding common shares.

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

June 1 Sold 22,000 common shares for cash.

Aug.31 Purchased and retired 16,000 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?

  • Earnings available to common share holders?

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

Weighted-average outstanding shares?

Question c. What is the earnings per share for the year? (Round the final answer to 2 decimal places.)

Reference no: EM132488337

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