Calculating EPS: Simple Capital Structure

Select Corporation was incorporated on January $2.$ The following information pertains to Select

Corporation's common stock transactions.

Required

a$.$ Determine the weighted$-$average number of shares of Select Corporation's common stock outstanding.

Note: Round amount to the nearest whole number.

b$.$ Compute earnings per share considering the following additional information:

Net income: $$825,000$

Preferred stock, $5\%,$ cumulative $13,000$ shares outstanding, $$10$ par value per share

Preferred stock dividends declared during the year: $$0$

Note: Enter the earnings per share amount in dollars and cents, rounded to the nearest penny.