Range Energy Corp.’s financial statements for the current year ended December 31, 2017, have been completed and submitted to you for review. The equity account balances a year ago, at December 31, 2016, are as follows:

Preferred shares, $4.20 non-cumulative, 10,400 shares authorized, issued, and outstanding	$752,050
Common shares, unlimited shares authorized, 124,000 shares issued and outstanding	1,428,350
Retained earnings	681,795

The only share transactions during 2017 were the declaration and distribution of a 24,800 common share dividend on July 1 and the issuance of 13,200 common shares for cash on October 31. The company’s 2017 profit was $622,880. A cash dividend on the preferred shares was declared on December 1, but was not paid as of December 31. Earnings per share for 2017 were calculated as follows:

Profit	=	$622,880	=	$3.84
Common shares outstanding on Dec. 31, 2017		162,000

Required:
1-a. The earnings per share is incorrect. Indicate what changes should be made to the numerator and the denominator?