London Corporation had 50,000 common shares outstanding and 10,000 shares of $5,cumulative,preferred shares outstanding on January 1,2017.On March 31,2017,London Corporation sold 10,000 common shares for $25 per share.On June 30,2017,London Corporation sold 5,000 common shares for $26 per share.London Corporation reacquired 2,000 of its common shares for $27 per share on October 1,2017.London Corporation reported net income for the year ended December 31,2017,of $200,000.
a_Calculate the weighted-average number of shares outstanding for 2017.
b_Calculate earnings per share for London Corporation.

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The Answer of London Corporation had 50,000 common shares outstanding and 10,000 shares of $5,cumulative,preferred shares outstanding on January 1,2017.On March 31,2017,London Corporation sold 10,000 common shares for $25 per share.On June 30,2017,London Corporation sold 5,000 common shares for $26 per share.London Corporation reacquired 2,000 of its common shares for $27 per share on October 1,2017.London Corporation reported net income for the year ended December 31,2017,of $200,000.
a_Calculate the weighted-average number of shares outstanding for 2017.
b_Calculate earnings per share for London Corporation.

London Corporation Had 50,000 Common Shares Outstanding and 10,000 Shares