Information taken from Little Chick Basket Supplies Inc. December 31, 2020, balance sheet are as follows: Common shares, 600,000 shares authorized; 325,000 shares issued and outstanding $860,000 Retained earnings 132,000 During 2021, the following equity transactions occurred: May 5 Repurchased and retired 15,000 common shares at $2.48 per share. 12 Repurchased and retired 30,000 common shares at $2.25 per share. Sept. 30 Repurchased and retired 25,000 common shares at $3.25 per share. Jul Required Prepare journal entries to account for the transactions during 2021. Problem 5 (8 marks) Thumper Horticultural Products Inc. reported $816,300 profit in 2019. On December 24 2019 Thumper Inc. declared a dividend on the 15,000, $2 cumulative preferred shares outstanding. The following changes in common shares outstanding occurred during the year. Jan 1 300,000 common shares were outstanding. Apr: 1 Purchased and retired 40,000 common shares Sept. 30 Declared and issued a 15% common share dividend. Nov. 1 Issue 15,000 common shares Nov. 30 Declared a 2:1 stock split to the shareholders of record on Dec 1, distributable Dec 15. Calculate the weighted-average number of common shares outstanding during the year and earnings per share. Round calculations to two decimal places