Liberty Ventures Inc. reported $544,680 profit in 2020 and declared preferred dividends of $19,300. The...
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Accounting
Liberty Ventures Inc. reported $544,680 profit in 2020 and declared preferred dividends of $19,300. The following changes in common shares outstanding occurred during the year:
| Jan. | 1 | 180,000 common shares were outstanding. |
| June | 30 | Sold 40,000 common shares. |
| Sept. | 1 | Declared and issued a 20% common share dividend. |
| Nov. | 2 | Sold 6,000 common shares. |
Calculate the weighted-average number of common shares outstanding during the year and earnings per share. (Round the "Earnings per share" answer to 2 decimal places.)
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