30) For the year ended December 31, 2018, Jovial Productions Inc. earned $13,000,000. Outstanding preferred shares included $1,500,000 in 9% cumulative preferred shares issued on January 1, 2015 and 32,000 $160 non-cumulative preferred shares issued on January 1, 2017 that are each entitled to dividends of $7 per annum. Dividends were neither declared nor paid on either class of the preferred shares in 2016 or 2017. On December 15, 2018, the company declared and paid the $270,000 dividends in arrears on the 9% cumulative preferred shares. The company also declared and paid $224,000 dividends on the non-cumulative preferred shares. Required: Determine the net income available to ordinary shareholders for the year ended December 31, 2018. 31) For the year ended December 31, 2017, Jovial Productions Inc. earned $13,000,000. Outstanding preferred shares included $1,500,000 in 9% cumulative preferred shares issued on January 1, 2014 and 32,000 $160 non-cumulative preferred shares issued on January 1, 2016 that are each entitled to dividends of $7 per annum. Dividends were neither declared nor paid on either class of the preferred shares in 2015 or 2016. On December 15, 2017, the company declared and paid $140,000 of the dividends in arrears on the 9% cumulative preferred shares. Required: Determine the net income available to ordinary shareholders for the year ended December 31, 2017. 32) For the year ended December 31, 2017, Jovial Productions Inc. earned $13,000,000. Outstanding preferred shares included $1,500,000 in 9% cumulative preferred shares issued on January 1, 2014 and 32,000 $160 non-cumulative preferred shares issued on January 1, 2016 that are each entitled to dividends of $7 per annum. Dividends were neither declared nor paid on either class of the preferred shares in 2015 or 2016. On December 15, 2017, the company declared $150,000 dividends on the 4% cumulative preferred shares and $150,000 in dividends on the non-cumulative preferred shares, both payable on January 15, 2018. Required: Determine the net income available to ordinary shareholders for the year ended December 31, 2017. 33) Hamm Corporation had 200,000 ordinary shares outstanding on January 1, 2018. On April 1, 2018, Hamm issued an additional 120,000 shares. On July 1, 2018, Hamm repurchased 20,000 ordinary shares and cancelled them. On October 1, 2018, Hamm issued an additional 50,000 ordinary shares. Â Required: a. What was the weighted average number of ordinary shares outstanding in 2018 ? b. Assume that on July 1, 2018 Hamm repurchased the shares and held them as treasury shares. Will the weighted average number of ordinary shares outstanding in 2016 change from the amount in part a? Why or why not?