Range Energy Corp.$$s financial statements for the current year ended December $31,2023,$ have been completed and submitted to you for review. The equity account balances a year ago, at December $31,2022,$ are as follows:

Preferred shares, $$4\mathrm{.}20$ non$-$cumulative, $11,600$ shares authorized, issued, and outstanding $ $764,050$

Common shares, unlimited shares authorized, $136,000$ shares issued and outstanding $1,452,350$

Retained earnings $699,795$

The only share transactions during $2023$ were the declaration and distribution of a $27,200$ common share dividend on July $1$ and the issuance of $16,800$ common shares for cash on October $31.$ The company$$s $2023$ profit was $$628,880.$ A cash dividend on the preferred shares was declared on December $1,$ but was not paid as of December $31.$ Earnings per share for $2023$ were calculated as follows:

Profit $=$ $$628,880=$ $$3\mathrm{.}49$

Common shares outstanding on Dec. $31,2023180,000$

Required:

$1-$a$.$ The earnings per share is incorrect. Indicate what changes should be made to the numerator and the denominator? $1-$b$.$ Calculate the correct EPS.