The shareholders equity accounts of Carla Vista Ltd. on April 1, 2020, the beginning of the fiscal year, are as follows:

$8 cumulative preferred shares (23,000 issued)		$2,300,000
Common shares (500,000 issued)		3,500,000
Retained earnings		1,600,000
Total shareholders equity		$7,400,000

During the year, the following transactions occurred:

2020
June		1		Reacquired 12,000 common shares for $8 per share.
July		1		Issued 52,000 common shares for $9 per share.
Sept.		30		Reacquired 10,000 common shares for $8.50 per share.
2021
Jan.		31		Issued 60,000 common shares in exchange for land. The lands fair value was $540,000.
Mar.		31		Profit for the year ended March 31, 2021, was $1,038,000.

Calculate the weighted average number of common shares for the year.

Weighted average number of common shares

Assuming the preferred share dividends are one year in arrears, calculate the earnings per share if no preferred dividends are declared during the year. (Round answer to 2 decimal places, e.g. 52.75.)

Earnings per share

$

What is the total number of common shares issued on March 31, 2021?

Number of common shares issued