5 16.66 points Return to question Exercise 13-13 Weighted-average shares outstanding and earnings per share LO3 A company reported $450,375 of profit for 2020, It also declared $64,000 of dividends on preferred shares for the same year. At the beginning of 2020, the company had 80,000 outstanding common shares. These three events changed the number of outstanding shares during the year. June 1 Sold 34,000 common shares for cash. Aug. 31 Purchased and retired 25,000 common shares. Oct. 1 Completed a three-for-one share split.. a. What is the amount of profit available for distribution to the common shareholders? Answer is complete and correct. Earnings available to common shareholders $ 386,375 C Third average number of common shares for the year