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Using the following information, compute earnings per share 01/01 50,000 common shares outstanding 04/01 10,000 common shares issued 07/01 20,000 common shares purchased 11/01 25% common stock dividend 12/31 2-for-1 common stock split a) Calculate weighted-average number of shares of common stock outstanding for the year. (12 points) Preferred dividend is declared: $1 per share on 50,000 shares of preferred stock outstanding. b) Complete earnings per share schedule below and show your work for each item of earnings per share next to the item. (5 points) Income from continuing operations $228,125 Gain on discontinued operations, net of tax 71,250 Net income $299.375 Earnings per share_Income from operations Discontinued operations, net of tax I ++ Net income Focus rch 9 W hp