Sandhill Realty Ltd. is a land developer with a calendar year end. When Sandhill needs capital to buy land, it often issues common shares, and once cash is obtained on large land sales, shares are often repurchased. Profit for the year ended December 31, 2024, was $909,520. Sandhill's board of directors declared and paid the annual dividend to its preferred shareholders. Sandhill reported the following information related to its shareholders' equity on January 1, 2024. $2 cumulative preferred shares, unlimited number of shares authorized, 181,904 shares issued Common shares, unlimited number of shares authorized, 550,000 shares issued $4,400,000 3,322,000 Contributed surplus-reacquisition of common shares Retained earnings 21,000 5,254,000 Common shares issuances and reacquisitions were as follows for 2024. Feb. 1 Issued 15,600 shares May 31 Reacquired 9,600 shares July 31 Issued 26,400 shares Nov. 1 Issued 4,800 shares Dec. 1 Reacquired 18,000 shares Calculate the weighted average number of common shares for 2024. Weighted average number of common shares Question Part Score 552500 Calculate the earnings per share for Sandhill. (Round answer to 2 decimal places, e.g. 2.76.) Earnings per share $ 1.01 --/2 Assume instead that the preferred shares are noncumulative and that there were no dividends paid during the year. Calculate the earnings per share for Sandhill. (Round answer to 2 decimal places, e.g. 2.76.) Earnings per share $ 1.65