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Hi, What is the formula to calculate this?

Hi, What is the formula to calculate this?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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What is the formula to calculate this?

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Bellevue Corporation started the year ended November 30, 2021, with 190,000 common shares and no preferred shares issued. The following changes in share capital occurred during the year: Feb. 28 Sept. 4 Nov. (a) 1 30 30 Issued 45,720 common shares for $808,000. Issued 64,800 $1 cumulative preferred shares for $16.2 million. Issued 19,800 common shares in exchange for land. The shares were trading for $21 on this date and the fair value of the land was $399,800. Reported net income of $976,300. Declared the quarterly cash dividend to the preferred shareholders of record on December 14, payable on December 31. Calculate the income available for the common shareholders. Income available to common shareholders $
Transcribed Image Text:Bellevue Corporation started the year ended November 30, 2021, with 190,000 common shares and no preferred shares issued. The following changes in share capital occurred during the year: Feb. 28 Sept. 4 Nov. (a) 1 30 30 Issued 45,720 common shares for $808,000. Issued 64,800 $1 cumulative preferred shares for $16.2 million. Issued 19,800 common shares in exchange for land. The shares were trading for $21 on this date and the fair value of the land was $399,800. Reported net income of $976,300. Declared the quarterly cash dividend to the preferred shareholders of record on December 14, payable on December 31. Calculate the income available for the common shareholders. Income available to common shareholders $
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