Calculate the profit available to common shareholders

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Question - Concord Limited reported profit of $493,940 for its November 30, 2021, year end. Cash dividends of $65,200 on the common shares and $64,500 on the noncumulative preferred shares were declared and paid during the year. The following information is available regarding Concord's common shares:

Dec. 1, 2020 The opening number of common shares was 66,900.

Feb. 28, 2021 Sold 8,600 common shares for $154,800 cash.

May 31, 2021 Reacquired 4,300 common shares for $68,800 cash.

Nov. 1, 2021 Issued 12,900 common shares in exchange for land with a fair value of $300,000.

Calculate the profit available to common shareholders.

Calculate the weighted average number of common shares for the year.

Calculate earnings per share for the year.

Reference no: EM132611654

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