Lusee Company had profit of $718,550 for the year ended December 31, 2018. Cash dividends of $145,000 on the common shares and of $77,000 on the non-cumulative preferred shares were declared and paid during that year. The following changes in common shares also occurred in 2018:

January 1, 2018 The opening number of common shares was 60,000

June 1, 2018 Sold 15,000 common shares for $205,000 cash

June 30, 2018 Reacquired 9,000 common shares for $225,000 cash

November 1, 2018 Issued 24,000 common shares in exchange for land with a fair value of $235,000.

REQUIRED:

1. Calculate the profit available to common shareholders
2. Calculate the weighted average number of common shares in 2018
3. Calculate the earnings per share.