Need

Need help with part B ASAP. Thank you.

Raxx Ltd. began 2020 with the following balances in its shareholders' equity accounts: Common shares, unlimited shares authorized, 500,000 shares issued and outstanding......... Retained earnings.... $3,000,000 2,500,000 The following share-related transactions occurred during the year: Date Transaction March 1 1 May Sept. Nov. Issued at $20 per share 100,000 $2.50 non-cumulative preferred shares with an unlimited number authorized. Issued 50,000 common shares at $15 per share. Repurchased and retired 150,000 common shares at $16 per share. Declared and distributed a 3:1 share split on the common shares. 1 30 Required a. Calculate the weighted average number of shares outstanding using the information abov b. Using the information provided, prepare an income statement for 2020 similar to Exhibit $ (136,500) (2,072,500) Cumulative effect of a change in depreciation method (net of $26,000 tax benefit). Operating expenses (related to continuing operations). Gain on disposal of discontinued operations' assets (net of $8,600 tax expense) Investment income on sale of investment in shares Loss from operating discontinued operations (net of $40,000 tax benefit). Income taxes on profit from continuing operations Revenues Loss from sale of plant assets 37,500 400,000 (182,500) (660,000) 5,375,000 (650,000) *The assets were items of equipment replaced with new technology