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Kiwi Charter Corp. reported $1,127,200 of profit for 2023. On November 2,2023, it declared and...

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Accounting

Kiwi Charter Corp. reported $1,127,200 of profit for 2023. On November 2,2023, it declared and paid the annual preferred dividends of $139,000. On January 1,2023, Kiwi had 72,000 and 180,000 outstanding preferred and common shares, respectively. The following transactions changed the number of shares outstanding during the year:
Feb. 1 Declared and issued a 20% common share dividend.
Apr. 30 Sold 127,000 common shares for cash.
May 1 Sold 40,000 preferred shares for cash.
Oct. 31 Sold 26,000 common shares for cash.
a. What is the amount of profit available for distribution to the common shareholders?
b. What is the weighted-average number of common shares for the year?
c. What is the earnings per share for the year? (Round the final answer to 2 decimal places.)

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