Lot's had 4,000 common shares and 500 $8 par, 5% preferred shares on January 1. During the year, Lothad the following transactions.

- Issued 1,000 shares of common stock on March 31

- Purchased 600 shares of treasury stock on June 30

- Sold 300 shares of treasury stock on October 31

What is Lots weighted average common shares outstanding for the year?

a. 4,500

b. 4,608

c.5,000

d. 5,058

Cal had 2,000 weighted average common shares outstanding for the year. For the same period, Cal earned net income of $8,000, paid $500 of dividends to preferred shares, and paid $800 of dividends to common shares. What is Cals earnings per share for the year?

a. $4.00 per share

b. $3.75 per share

c. $3.60 per share

d. $3.35 per share

R Inc. had an average stock price per share for the year of $420 and earnings per share of $70. Dividends paid per common share were $10. What is R's price earnings ratio for the year?

a. 1.7

b. 58.6

c. 60

d . 70