how does it get 170500

S 14-12 Number of Common Shares Outstanding 120,000 x 1.1 155,000 x 1.1 170,500 x 1. 0 Weighted Average Number of Common Shares Outstanding 77,000 14,208 56,833 Fraction of Year 7/12 January through July) 112 (August) = 4/12 (September through December) Weighted average number of common shares outstanding during 2017= 148,041 Req. 2 Earnings per Net income - Preferred dividends share Weighted average number of common shares outstanding = $350,000 - $13,000 148,041 = $2.28 statement same time it The following Starter 14-12 Figero Inc. has $350,000 of income in 2017. During that same time declared preferred dividends in the amount of $13,000. The follow activities affecting common shares occurred during the year: Jan. 1 120,000 common shares were outstanding Aug. 1 Sold 35,000 common shares Sep. 1 Issued a 10 percent common stock dividend 1. Calculate the weighted average number of common shares outstand- ing during the year. 2. Calculate earnings per share. Round to the nearest cent