6 / 6 75% + | Question 2 - Earnings Per Share (EPS) (estimated time = 10-15 min) Bobby's Burgers Inc. started 2020 with the following shares outstanding: 5,000, $1,00, cumulative preferred shares (No dividends in arrears) 9,000 common shares The company earned $350,000 during 2020 and had the following share transactions: Mar 15 Issued 6,000 common shares for trucks valued at $25,000 Aug 1 Repurchased 1,700 common shares at $15/share Nov 15 Issued 4,700 common shares for $16/share Required: a) Calculate Earnings Per Share for Bobby's Burgers Inc. for 2020. (show all your work for full marks) (5 marks) b) Assuming all other information is similar, if Dave's Diner Ltd. had earnings per share of $18.28 for 2020, which companies shares would you chose to invest in if you had to pick one, Bobby's Burgers Inc. or Dave's Diner Ltd? (1 marks)