4 (10 points) At January 1, 2021, Liam Inc. had the following shares authorized and issued: Jan. 1 Common shares issued 40,000 Common shares authorized Unlimited Jan. 1 Preferred shares issued 1,000 Cumulative, $6 preferred shares authorized 100,000 During 2021, Liam had the following share transactions: Feb. 1 Issued 5,000 preferred shares. Apr. 1 Issued 20,000 common shares. Aug. 1 Issued 18,000 common shares. Dec. 1 Issued 6,000 common shares. On December 31, Liam declared a $6 per share dividend on all issued preferred shares. Liam's 2021 net income was $225,000. Instructions (a) Calculate the weighted average number of common shares in 2021. (b) Calculate the net income available to common shareholders for 2021. (c) Calculate the 2021 earnings per share. /10 . "I