Fafard Horticultural Products Inc. reported $889,800 net income in 2014 and declared preferred dividends of $79,800. The following changes in common shares outstanding occurred during the year.

Calculate the weighted-average number of common shares outstanding during the year and earnings per share. Round calculations to two decimal places.
Analysis Component: What is the effect of a share dividend on earnings pershare?

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Jan. 60,000 common shares were outstanding. 1 Mar. Aug. Nov Declared and issued a 30% common share dividend. 1 Sold 20,000 common shares. 1 Sold 40,000 common shares