Calculating EPS: Simple Capital Structure Select Corporation was incorporated on January 2. The following information pertains to Select Corporation's common stock transactions. Required a. Determine the weighted-average number of shares of common stock outstanding for the year. - Note: Round amount to the nearest whole number. b. Compute basic earnings per share considering the following additional information: 1. Net income: $330,000 2. Preferred stock, 5\%, cumulative, 5,000 shares outstanding, $10 par value per share 3. Preferred stock dividends declared during the year: $0