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Calculate the weighted-average number of common shares

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Reference no: EM132900063

Horticultural Products Inc. reported $928,470 profit in 2020 and declared preferred dividends of $74,600. The following changes in common shares outstanding occurred during the year.

Jan. 1 75,000 common shares were outstanding.

Mar. 1 Declared and issued a 14% common share dividend.

Aug. 1 Sold 30,000 common shares.

Nov. 1 Sold 30,000 common shares.

Problem 1: Calculate the weighted-average number of common shares outstanding during the year and earnings per share. (Round the "Earnings per share" answer to 2 decimal places.)

Reference no: EM132900063

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