At the beginning of 2014 , Renas Corporation had 450000 shares of no-par common stock issued and outstanding. On 2014 June 30 , the firm issued an additional 135000 shares at $7 per share. Income for 2014 was $319200. On 2015 September 1, a 15% stock dividend was issue d to all common shareholders. On 2015 October 1, 60000 shares were reacquire d as treasury shares. Net income in 2015 was $278063. A. Compute the weighted-average number of common shares outstanding for 2014 and 2015. (6 marks) B. Compute basic earnings per share in 2014 and 2015. (6 marks) DAP Enterprise reported net income of $1125000 at the end of 2016 , with a tax rate of 40%. On 2016 January 1, 500000 ordinary shares we re outstanding and on 2016 July 1,60 000 new shares were sold. DAP Enterprise has 5000 preference shares at 10% ( $10 per share). C. i Calculate the basic EPS. (4 marks) ii Discuss TWO (2) limitations of EPS, as a measure of performance. (4 marks) (Total 20 marks)