A company reported $1,350,000 of net income for 2002. It also declared $195,000 of divi- dends on preferred shares for the same year. At the beginning of 2002, the company had 270,000 outstanding common shares. These two events changed the number of outstanding shares during the year: Apr. 30 Sold 180,000 common shares for cash. Oct. 31 Purchased and cancelled 108,000 common shares. a. What is the amount of net income available for distribution to the common shareholders? b. What is the weighted-average number of common shares for the year? c. What is the basic earnings per share for the year?