Manto Realty Ltd. is a land developer with a calendar year end. When Manto needs capital to buy land, it often issues common shares, and once cash is obtained on large land sales, shares are often repurchased. Profit for the year ended December 31, 2017 was $900,000. Manto's board of directors declared and paid the annual dividend to its preferred shareholders.

Manto Realty Ltd. reported the following information related to its shareholders' equity on January 1, 2017.

$2-cumulative preferred shares, unlimited number of shares authorized, 160,000 shares issued

$4,400,000

Common shares, unlimited number of shares authorized, 550,000 shares issued

3,322,000

Contributed surplusreacquisition of common shares

21,000

Retained earnings

5,254,000

Common shares issuances and reacquisitions were as follows for 2017.

Feb. 1

Issued 16,000 shares

May 30

Reacquired 11,000 shares

July 31

Issued 31,000 shares

Nov. 1

Issued 5,500 shares

Dec. 1

Reacquired 19,000 shares

1. Calculate the weighted average number of common shares for 2017.(Round each calculation to the nearest whole share.)

Weighted average number of common shares

1. Calculate the earnings per share ratio for Manto Realty Ltd.(Round answer to 2 decimal places, e.g. 52.76.)

Earnings per share ratio$

Assume instead that the preferred shares are noncumulative and that there were no dividends paid during the year.

1. Calculate the earnings per share ratio for Manto Realty Ltd.(Round answer to 2 decimal places, e.g. 52.76.)

Earnings per share

$