Jones Company provided the following information for the calculation of EPS for the year ending December 31, 2019:

At the beginning of the year there were

20,000 shares of $10 par value, 6% preferred stock are outstanding.

300,000 shares of common stock are outstanding.

For the year 2019, Jones recognized net income of $200,000; dividends have been declared to preferred and common shareholders; and the effective tax rate was 20%.

During 2019, Jones had following transactions

Date	Transaction
March 1, 2019	Issued 40,000 shares of common stock.
June 30, 2019	Repurchased 60,000 common shares as treasury stock.
September 30, 2019	Issued 20% stock dividends on common shares
December 1, 2019	Reissued 12,000 shares of treasury stock.

1. Compute income available for common stock shareholders for basic EPS calculation.
2. Compute the time-weighted average common shares outstanding for basic EPS calculation.
3. Compute Basic EPS