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Would love this solved ASAP! Ahab Fisheries Inc, has authorized share capital of an unlimited number of common shares and 300,000 $3-cumulative preferred shares. As
Would love this solved ASAP!
Ahab Fisheries Inc, has authorized share capital of an unlimited number of common shares and 300,000 $3-cumulative preferred shares. As of January 1, 2022, 50,000 common shares had been issued. During 2022, 10,000 common shares were issued on April 1 for cash of $45,000 and on July 1, 20,000 were issued. On January 1,2022,80,000 preferred shares were issued. The business also had a net income of $590,000 for the year. Required: (a) Calculate the net income available to common shareholders. (b) Calculate the weighted average number of common shares in 2022. (c) Calculate the earnings per share. See answer space on the following Step by Step Solution
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