Washington enterprises had net income for 2016 of? $103,000. washington had? 39,000 shares of common stock outstanding at the beginning of the year and? 43,000 shares of common stock outstanding at the end of the year. there were? 6,000 shares of preferred stock outstanding all year. during? 2016, washington declared and paid preferred dividends of? $29,000. what is? washington's earnings per? share? (round the answer to two decimal? places.)

Trecek corporation incurs research and development costs of $625,000 in 2017, 30 percent of which relate to development activities subsequent to ias 38 criteria having been met that indicate an intangible asset has been created. the newly developed product is brought to market in january 2018 and is expected to generate sales revenue for 10 years. assume that a u. s.–based company is issuing securities to foreign investors who require financial statements prepared in accordance with ifrs. thus, adjustments to convert from u. s. gaap to ifrs must be made. ignore income taxes. required: (a) prepare journal entries for research and development costs for the years ending december 31, 2017, and december 31, 2018, under (1) u. s. gaap and (2) ifrs. (c) prepare the entry(ies) that trecek would make on the december 31, 2017, and december 31, 2018, conversion worksheets to convert u. s. gaap balances to ifrs.