Question 4. Corporate earnings (7 marks) The Dhinja Company had net income of $862,500 for the year ended Dec. 31, 2016. At Jan. 1, 2016 there were 200,000 common shares authorized, and 75,000 shares issued and outstanding. On Apr. 1, the company issued another 20,000 shares. On Nov. 1, they issued another 25,000 shares. During 2016 the company declared and paid a dividend of $12.00 per share on its 10,000 preferred shares. Required: Compute earnings per share for the year ended Dec. 31, 2016