Calculate EPS with the following information:

Transactions:

Dec 1, 2019:

Complete Tire repurchased and cancelled 15,000 of its common shares @1.25 per share. All 100,000 shares outstanding prior to this transaction were issued on Jan. 1, 2018, when the company commenced operations. There have been no other common share transactions since Jan. 1, 2019. (Therefore, there was 100,000 common shares outstanding from Jan - Nov 2019 and only 85,000 outstanding for the month of Dec 2019)

Dec 31, 2019:

Declared total cash dividends of $12,000. When Complete Tire commenced operation on Jan. 1, 2018, in addition to the 100,000 common shares issued at that time (unlimited authorized), there were 1,000 $8 cumulative preferred shares issued (10,000 authorized). This is the first dividend declared by Complete Tire. No dividends were declared in 2018.

Trial Balance figures @ Dec. 31, 2019:

Net Income = 5,842.63

Dividends Payable = 12,000

Common shares = 63,750

Preferred shares cumulative = 170,000

Formula:

EPS = Net Income - Preferred Dividends / Weighted average shares outstanding