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650,000 Calculating EPS: Simple Capital Structure Select Corporation was incorporated on January 2, 2020. The following information pertains to Select Corporation's 2020 common stock transactions. Jan. 2 Number of shares authorized Jan. 2 Number of shares issued 221,000 Jul. 1 Number of shares reacquired but not canceled 13,000 Sept. 1 Two-for-one stock split Dec. 1 Reissued shares of treasury stock 13,000 Required a. Determine the weighted average number of shares of Select Corporation's common stock outstanding. Note: Round amount to the nearest whole number, Number of shares b. Compute earnings per share for 2020 considering the following additional information: 1. Net income: $825,000 2. Preferred stock, 5%, cumulative 13,000 shares outstanding, $10 par value per share 3. Preferred stock dividends declared in 2020: $0 Note: Round earnings per share amount to two decimal places. Net Income Available to Weighted Avg. Common Common Stockholders Shares Outstanding Basic EPS $ Per Share $ Check