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OAK Inc. reported $1.900,000 of net income for the year ended December 31, 2017. On September 2, 2017 ASH declared and paid the annual preferred dividends of $360.000.
On January 1, 2017 OAK Inc. had 50,000 preferred and 82,000 common shares outstanding. The following transaction changed during 2017. OAK's year end is December 31.
May 1
Declared and issued an 20% common share dividend
July 1
Sold 15,000 common shares for cash
Oct 1
Repurchased 7,000 common share for cash
Required:
Question 1. What is the weighted-average number of common shares for the year?
Question 2. What are the earnings per share for the year?
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