$1$ Problem $1(12$ marks$)$

$2$ Chico Corp reported profit for $2023$ of $$1,320,710.$ On November $2,2023,$ it declared and paid the annual prefer

$3$ preferred dividend amount of $$121,000.$ On January $1,2023,$ Chico had $40,000$ and $270,000$ outstanding preferr

$4$ common shares respectively. See details below for the transactions that changed the number of shares outstanc

$5$

$6$

Given Data:

Profit

Preferred dividends declared and paid

$$1,320,710$

$$121,000$

$\backslash$table$[[$Date$,$Item,Amount$],[$January $1,$Common shares outstanding,$270,000],[$January $1,$Preferred shares outstanding,$40,000],[$February $1,\backslash$table$[[$Common share dividend$],[$declared and issued$]],10\%$

$18$ Required:

Part A $(3$ marks$)$

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

Profit available for distribution to the common shareholders:

Profit available for distribution to the common shareholders

Part B $(6$ marks$)$

b$)$ What is the weighted$-$average number of common shares for the year?