A company reported $576,000 of net income for 2014. It also declared $78,000 of dividends on preferred shares for the same year. At the beginning of 2014, the company had 50,000 outstanding common shares. These three events changed the number of outstanding shares during the year:

a. What is the amount of net income available for distribution to the common shareholders?
b. What is the weighted-average number of common shares for the year?
c. What is the earning per share for the year? Round calculations to two decimal places.
Analysis Component: What is the effect of a share split on earnings pershare?

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June Aug. Oct. Sold 30,000 common shares for cash. 31 1 Purchased and retired 13,000 common shares. Completed a three-for-one share split. a thre-for-one share plinn