Q.1

Stellar Corp. had the following shares issued and outstanding for all of 20X9: 300,000 common shares; 30,000 9%, Class A non-cumulative preference shares with a par value of $100 each; and 35,000 6%, Class B cumulative preference shares with a par value of $100 each. Select information is provided below for the company's year ended December 31, 20X9:

Net income for the year $4,560,000Dividends on common shares paid $50,000; declared $80,000Dividends on Class A preference shares paid $250,000; declared $270,000Dividends on Class B preference shares paid $420,000; declared $230,000

What was the net income available to the common shareholders for 20X9?

Q.2

Gidget Inc.'s capital structure included 400,000 common shares outstanding and $1,000,000 of 3.5% cumulative preferred shares outstanding all of which were issued in 20X1. $300,000 of dividends were declared and paid on December 31, 20X5. Previously, dividends were last declared and paid on December 31, 20X2. Gidget reported comprehensive income of $1,957,000 ($2,000,000 net income - $43,000 loss in other comprehensive income = $1,957,000 comprehensive income) for 20X5. What is the income available to common shareholders that ZGS will use to calculate basic earnings per share (EPS) for 20X5?