need to be solved in 40mins or less

Harrison Inc. reported $209,480 profit in 2020 and declared and paid the annual preferred dividends of $34,400. On January 1, 2020 the following shares were outstanding 60,000 common shares 20,000 preferred shares The following transactions changed the number of shares outstanding during the year June 30 Sold 20.000 common shares Sept 1 Declared and issued a 20% common share dividend Oct 1 Issued an additional 50.000 preferred shares for cash Nov 1 Sold 12,000 common shares Dec 1 Purchased and retired 8,000 common shares. Required: a) What is the amount of profit available for distribution to the common shareholders? b) What is the weighted average number of common shares for the year? Show your work c) What is the earnings per share for the year? Round calculations to 2 decimal places. Short Answer Toolbar navigation