Drako Corp. had the following activity related to its common shares for the year ending December 31, 2023:

Shares outstanding, Jan 1 150,000

10% stock dividend, Apr 1 15,000

Shares issued, Jul 1 20,000

Shares repurchased, Oct 1 (50,000)

Shares issued, Dec 31* 10,000

Ending balance, Dec 31 145,000

Net Income $476,000

Additional information:

Drako issued 3,000, $2, cumulative preferred shares for $300,000, however, dividends were not declared during 2023.

During 2023, Drako had 15,000 stock options outstanding that were in the money. The exercise price of the options is $20, while the market price was $25.

Instructions

1. Calculate the weighted average number of shares.
2. Calculate basic EPS.
3. Calculate full diluted EPS.