Micky and Donald Corp. was founded on January 1, 2021. At that time it issued 120,000 ordinary shares and 20,000, $30, cumulative 5% preferred shares. Subsequent transactions affecting its shareholdings follow. 
Required:
a. What was Micky's weighted average number of ordinary shares outstanding in 2022?
b. What was Micky's basic EPS in 2022?
Correct Answer:
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