Question 4 (7 points) ACCT-2043 Winter 2020 via On January 1, 2019, Ashram Corporation had 18,000, non-cumulative preferred shares and 132,000 common shares issued and outstanding. Ashram reported profit of $480,000 in 2019 and declared preferred dividends of $5,000 during the year. The following transactions changed the number of shares outstanding during the year ended December 31, 2019 April 1 Issued 24,000 common shares for cash July 1 Issued 6,000 common shares for cash. October 31 Reacquired 12,000 common shares Required: a What is the amount of profit available for distribution to common shareholders? (1 mark) b. What is the weighted average number of common shares outstanding for the year? (Show your calculations) (4 marks) c. What are the earnings per common share for the year? (Show your calculations and round to the nearest 2 decimal places.) (2 marks)