When calculating the weighted average common shares , the average must be weighted by the number of months shares have been issued or purchased are outstanding during the current fiscal year. t or f

The weighted average number of shares is a simple average of shares issued during a year. t or f

Stock options are not a factor in calculating dilutive EPS. t or f

Net income is $100,000. The opening number of shares for the year is 50,000 shares. The weighted number of shares outstanding for the year is 53,500 shares. The EPS is $2.00 per share. t or f

When calculating basic EPS. If preferred shares are cumulative, deduct the dividend amount from net income according to the preferred share's entitlement. t or f

Identifying all potentially dilutive securities is a step in the dilutive EPS calculation. t or f