Clinton Inc's shareholders' equity accounts were as follows at the beginning of the current fiscal year, August 1, 2017: $2,375,000 3,750,000 $1 noncumulative preferred shares (95,000 shares issued) Common shares (375,000 shares issued) Retained earnings Total shareholders' equity 2,250,000 $8,375,000 During the year, the following selected transactions occurred: Oct. 1 Dec. 1 Feb. 1 Reacquired 22,800 common shares for $18 per share. Issued 59,400 common shares for S24 per share. Issued 9.100 common shares for $25 per share. Declared the annual preferred cash dividend to shareholders of record on July 10 payable on July 31. Net income for the year ended July 31, 2018, was $1,258,000. June 20 July 31 Calculate the weighted average number of common shares for the year. Weighted Average Number of Shares Calculate the weighted average number of common shares for the year. Weighted Average Number of Shares e Textbook and Media Calculate the basic earnings per share. (Round answer to 2 decimal place eg. 5.25.) Basic Earnings per Share e Textbook and Media Would your answer to the basic earnings per share calculated above change if the preferred share dividend had not been declared on June 20? (Round answer to 2 decimal place eg. 5.25.) Basic Earnings per Share