Famous Inc. has $365,000 of income in 2020. During that same time it declared preferred dividends in the amount of $29,000. The following activities affecting common shares occurred during the year:

Jan. 1 160,000 common shares were outstanding

Aug. 1 Sold 39,000 common shares

Sep. 1 Issued a 10 percent common stock dividend

1. Calculate the weighted-average number of common shares outstanding during the year.

2. Calculate earnings per share.

1. Calculate the weighted-average number of common shares outstanding during the year. (Round final answers to the nearest whole number.)

	Weighted average
	number of common
Transaction	shares outstanding
Jan. 1
Aug. 1
Sep. 1
Total