Years Ended December 31, 2024 and 2023

2024

2023

Net Sales Revenue

$464,000

$424,000

Cost of Goods Sold

239,000

216,000

Gross Profit

225,000

208,000

Operating Expenses

136,000

134,000

Income From Operations

89,000

74,000

Interest Expense

9,000

14,000

Income Before Income Tax

80,000

60,000

Income Tax Expense

19,000

26,000

Net Income

$61,000

$34,000

December 31, 2024 and 2023

2024

2023

2022*

Assets

Current Assets:

Cash

$90,000

$88,000

Accounts Receivables, Net

110,000

119,000

$103,000

Merchandise Inventory

146,000

166,000

210,000

Prepaid Expenses

12,000

7,000

Total Current Assets

358,000

380,000

Property, Plant, and Equipment, Net

217,000

182,000

Total Assets

$575,000

$562,000

$601,000

Liabilities

Total Current Liabilities

$224,000

$247,000

Long-term Liabilities

117,000

93,000

Total Liabilities

341,000

340,000

Stockholders' Equity

Preferred Stock, 3%

106,000

106,000

Common Stockholders' Equity, no par

128,000

116,000

95,000

Total Liabilities and Stockholders' Equity

$575,000

$562,000

Compute the earnings per share of common stock for

2024

and

2023.

Begin by selecting the formula to compute the earnings per share of common stock.

Earnings per share

=

(Net income - Preferred dividends) Weighted average number of common shares outstanding

please have an explanation on how to solve Weighted average number of common shares outstanding