EPS and merger terms Cleveland Corporation is interested in acquiring Lewis Tool Company by swapping 0.39 share of its stock for each share of Lewis stock. Certain financial data on these companies are given in the following table, Cleveland has sufficient authorized but unissued shares to carry out the proposed merger. - Data table a. How many new shares of stock will Cleveland have to issue to make the proposed merger? b. If the earnings for each firm remain unchanged, what will the postmerger earnings per share be? c. How much, effectively, has been lost for each of the original shares of Lewis stock? d. How much, effectively, has been earned on behalf of each of the original shares of Cleveland Corporation's stock? (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) Item Lewis Tool Earnings available for common stock Number of shares of common stock outstanding Earnings per share (EPS) Market price per share Pricelearnings (P/E) ratio Cleveland Corporation $192,000 51,000 $3.76 $49.23 13.1 $50,000 21,000 $2.38 $15.88 6.7 Print Done a. The number of new shares of stock Cleveland will have to issue to make the proposed merger is shares. (Round to the nearest whole number.) b. If the earnings for each firm remain unchanged, the post-merger earnings per share will be $ (Round to the nearest cent.) c. The amount, effectively, that has been lost for each of the original shares of Lewis stock is $ (Round to the nearest cent.) d. The amount, effectively, that has been earned on behalf of each of the original shares of Cleveland Corporation's stock is $ (Round to the nearest cent.)