A. Epple, Incorporated. had 50,000 common shares outstanding on January 1, 2020. The company sold an additional 5,000 shares on March 1, issued a 4-for-1 stock split on September 1, reacquired 4,000 common shares for treasury on October 1 and re-issued 2,000 Treasury shares on December 1. The company also declared, but has not paid, a dividend on its 10,000 shares of 5%, $50 par, noncumulative preferred stock. Epple had a net income of $184,100. This consists of income from continuing operations of $213,000, and a loss from discontinued operations (net of taxes) of $28,900.

Instructions:

1. Prepare a schedule to determine the weighted overage of common stock outstanding for Epple, Incorporated.

2. Compute Epple, Incorporated earnings per share for 2020 and show 2020 income statement disclosure of earnings per share. *****You must show supporting computations.