Exercise 13-13 Weighted-average shares outstanding and earnings per share LO3 A company reported $488,325 of profit for 2020. It also declared $70,000 of dividends on preferred shares for the same year. At the beginning of 2020, the company had 86,000 outstanding common shares. These three events changed the number of outstanding shares during the year. June 1 Sold 37,000 common shares for cash. Aug. 31 Purchased and retired 31,000 common shares.. ok Oct. 1 Completed a three-for-one share split. a. What is the amount of profit available for distribution to the common shareholders? Eamings available to common shareholders D rences b. What is the weighted-average number of common shares for the year? Weighted average outstanding shares c. What is the earnings per share for the year? (Round the final answer to 2 decimal places.) Eamings per share