[39] For 2018, Jack-N-Jill Nurseries, Inc., reported net income of $1,160,000 inclusive of a net loss from discontinued operations of $20,320. It did not declare any common dividends but did however declare current year preferred dividends of $280,000 during the year. It began the year with 22,000 common shares outstanding. It issued 120,000 common shares on April 1 and declared a 20% stock dividend on May 15. On November 1, it repurchased 12,000 shares and cancelled them. Determine the company's basic EPS from continuing operations for the year. Select one: a. $8.94 O b. $7.46 C. $6.80 O d. $5.68 e. none of the above. [40] Jack-N-Jill reported 24,000 common shares and 25,000, $6 non-convertible preferred shares, outstanding at the beginning of 2019. On October 1, 2019, a 3-for-1 stock split for common shares was declared. There were no other equity transactions during the year. In 2018, the company did not declare any common dividend but declared preferred dividends but did not pay these till 2019. It did not declare any dividends for 2019. The company reported a basic EPS for 2019 of $8.25. Determine the income from operations reported for 2019 assuming the preferred share were non- cumulative. Select one: a. $894,000 b. $594,000 c. $744,000 d. $198,000 e. none of the above. [41] Assume all of the information given in [40] above to be the same except now assume the preferred shares were cumulative. Determine the income from operations reported for 2019. Select one: a. $894,000 b. $594,000 O c. $744,000 O d. $198,000 e. none of the above