Brubeck Construction reported the following at December 31, 2017:

Shareholders equity

6% Cumulative preferred stock - $30 par value, 60,000 shares authorized; 20,000 shares issue $ 600,000

Common Stock - $.10 par value: 250,000 share authorized: 120,000 issued 12,000

Additional paid-in capital 1,428,000

Retained earnings 235,635

Treasury shares at cost (1,628) (24,420)

Total shareholders equity $ 2,251,215

The following transactions occurred during 2018:

2/1/18 Purchased 6,350 shares of treasury stock at a market price of $16 per share.

2/15/18 Declared a dividend of $.22 per common share to shareholder of record on 2/22/18.

3/1/18 Paid the semiannual dividend on the 6% preferred stock, and the common stock dividend declared on 2/15.

8/20/18 Sold 5,750 treasury shares at a market price of $18. Brubeck uses the FIFO method to determine the cost of treasury shares.

9/1/18 Paid the semiannual dividend on the 6% preferred stock.

10/15/18 Sold 45,000 shares of common stock at a market price of $21 per share.

11/15/18 Declared a 5% stock dividend on common shares outstanding when the market value of the stock was $22 per share.

12/31/18 Recorded net income for the year of $375,400 for fiscal year 2018.

Required:

1. Record journal entries for each of the 2018 transaction.

2. Prepare statements of stockholders equity for the years ending December 31, 2018 in good form.

3. Calculate earnings-per-share for 2018.

4. Calculate earnings-per-share for 2018 assuming no preferred dividends were paid.