Question 1 a) Jasmine Incorporation had 500,000 common shares outstanding on January 1st 2021. It issued 40,000 shares on April 1st 2021 and retired 30,000 shares on November 1st 2021. There was a 10% share dividend on December 1. You are required to calculate the weighted average number of shares as at December 1st 2021. (4 marks) b) Following Question 1a), Jasmine Incorporation had a net profit of $1,400,000 and the company had declared a preference dividend of $245,000, you are required to calculate the Earnings Per Share (EPS) of the company. (4 marks) c) Calculate the dividend payout ratio (in %) of Jasmine Incorporation if the annual dividends per share is $0.50. (2 marks) (Total: 10 marks) 5