Question: Please answer in detail. Thanks! Additional Problem 14 On January 1, 2017, Cullumber Corporation had 93,000 common shares outstanding. On April 1, the company issued

Please answer in detail. Thanks! Additional Problem 14 On January 1,

Please answer in detail. Thanks!

Additional Problem 14 On January 1, 2017, Cullumber Corporation had 93,000 common shares outstanding. On April 1, the company issued an additional 30,600 shares. On July 1, the company repurchased and cancelled 33,000 common shares. On November 1, the company issued 60,600 new shares. Cash dividends of $61,400 were paid to preferred shareholders. Net income for the year was $978,800. Calculate the weighted average number of shares for 2017 and earnings per share (EPS). (Round earnings per share (EPS) to 2 decimal places, e.g. 15.75.) Weighted average number of shares Earning per share /share

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