15 QUESTION 9 6 MARKS Second Last Question Inc. reported $741,500 net income in 2022 and declared preferred dividends of $66,500. The following changes in common shares outstanding occurred during the year. January 1 60,000 common shares were outstanding March August 1 Declared and issued a 30% common share dividend 1 Sold 20,000 common shares November 1 Sold 40,000 common shares 1. Calculate the weighted average number of common shares outstanding during the year. 4 Marks Time Period # of Shares Outstanding Fraction of Year Outstanding Weighted Average 2. Calculate earnings per share. Round calculations to two decimal places. 2 Marks