On January 1, 2010, Chang Corp. had 480,000 ordinary shares outstanding. During 2010, it had the following transactions that affected the ordinary share account.
February 1..........................Issued 120,000 shares
March 1...................Issued a 20% share dividend
May 1 .............Acquired 100,000 treasury shares
June 1 ........................Issued a 3-for-1 share split
October 1 ...........Reissued 60,000 treasury shares

Instructions
(a) Determine the weighted-average number of shares outstanding as of December 31, 2010.
(b) Assume that Chang Corp. earned net income of ¥3,256,000,000 during 2010. In addition, it had 100,000 shares of 9%, ¥100 par non-convertible, non-cumulative preference shares outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preference dividend in 2010. Compute earnings per share for 2010, using the weighted average number of shares determined in part (a).
(c) Assume the same facts as in part (b), except that the preference shares were cumulative. Compute earnings per share for 2010.
(d) Assume the same facts as in part (b), except that net income included a loss from discontinued operations of ¥432,000,000. The loss from discontinued operations is net of applicable income taxes. Compute earnings per share for 2010.