01/01 04/01 17. Using the following information, compute earnings per share. 200,000 common shares outstanding 40,000 common shares issued 07/01 80,000 common shares purchased 11/01 12/31 50% common stock dividend 2-for-1 common stock split a) Calculate weighted-average number of shares of common stock outstanding for the year. (12 points) Preferred dividend is declared: $1 per share on 100,000 shares of preferred stock outstanding. b) Complete earnings per share schedule below and show your work for each item of earnings per share next to the item. (5 points) Income from continuing operations $456,250 Gain on discontinued operations, net of tax, 142.500 Net income $598.750 Earnings per share: Income from operations Discontinued operations, net of tax Net income Page 4 of 8