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What is the weighted average number of common shares

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Question - H. Inc reported $209, 480 profit in 2020 and paid the annual preferred dividends of$ 34,400. On January 1 the following shares were outstanding 60,000 common shares and 20,000 preferred shares?

The following transactions changed the number of shares

June 30 = Sold 20, 000 common shares

Sept 1 = Declared and issues 20% common share dividend

Oct 1 = Issued an additional 50,000 preferred shares for cash

Nov 1 = Sold 12,000 common shares

Dec 1 = Purchased and retired 8,000 common shares

Required -

What is the amount of profit available for distribution to common shareholders?

What is the weighted average number of common shares for the year?

What is the earning per share for the year? Round to two places!

Reference no: EM132844859

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