Question 3 of 3 1/3 View Policies Show Attempt History Current Attempt in Progress The shareholders' equity accounts of Cullumber Ltd. on April 1, 2020, the beginning of the fiscal year, are as follows: $7 cumulative preferred shares (20,000 issued) Common shares (520,000 issued) Retained earnings Total shareholders' equity $1,600,000 4.680,000 1.400,000 $7,680,000 During the year, the following transactions occurred: 2020 June 1 July 1 Sept. 30 2021 Jan. 31 Mar 31 Reacquired 12,000 common shares for $10 per share. Issued 51,000 common shares for $11 per share. Reacquired 8,000 common shares for $10.50 per share, Issued 54,000 common shares in exchange for land. The land's fair value was 5594,000 Profit for the year ended March 31, 2021, was 5963,000 Your answer is incorrect. Calculate the weighted average number of common shares for the year. Weighted average number of common shares e Textbook and Media Your answer is incorrect Assuming the preferred share dividends are one year in arrears, calculate the earnings per share it no preferred dividends are declared during the year. (Round answer to 2 decimal places, es 52.75.) Earnings per shares e Textbook and Media Search o F