Pearl corporation is preparing the comparative financial statement for the annual reports to its shareholders for fiscal year ended May 31,2020, and May 31,2021. The income from operation for the fiscal year ended May 31,2020, was $1,738,000 and income from continuing operation for the fiscal year ended May 31,2021, was $2,443,000. In both years , the company incurred a 9% interest expenses on $2,381,000 of debt , an obligation that requires interest-only payment for 5 years. The company experienced a loss from discontinued of $570,000 on February 2021. The company uses a 20% effective tax rate for income taxes. The capital structure of pearl corporation on june 1, 2019 , consiststed of 986,000 shares of common stock outstanding and 19,500 shares of $50 par value ,6% cumulative preferred stock . There were no preferred dividends in arrears , and the company had not issued any convertible securities, options, or warrants. On October 1,2019 , pearl sold an additional 501,000 shares of common stock at $20 per shares . Pearl distributed a 20% stock dividend on the common shares outstanding on January 1,2020. On December 1,2020 , Pearl was able to sell an additional 805,000 shares of the common stock at $22 per shares. These were the only common stock transactions that occurred during the two fiscal years. Indentify wheather the capital structure at peral corporation is a simple or complex capital structure. Determine the weighted -average number of shares that pearl corporation would use in calculating earnings per share for the fiscal year ended. prepare,in good form , a comparative statement, beginning with income from operation, for pearl corporation for the fiscal year ended May 31,2020, and May 31, 2021. This statement will be included in pearl report and should display the appropriate earnings per share presentation. ( round earnings pet share to 2 decimal places, e.g. $1.55).