1. Determine the weighted-average number of shares outstanding as of December 31, 2021.

2. Assume that Teal Corp. earned net income of $3,605,000 during 2021. In addition, it had 104,000 shares of 9%, $100 par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2021. Compute earnings per share for 2021, using the weighted-average number of shares determined in part (a).

3. Assume the same facts as in part (b), except that the preferred stock was cumulative. Compute earnings per share for 2021.

4.

On January 1, 2021, Teal Corp. had 502,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. February 1 March 1 May 1 June 1 October 1 Issued 125,000 shares Issued a 10% stock dividend Acquired 98,000 shares of treasury stock Issued a 3-for-1 stock split Reissued 58,000 shares of treasury stock Assume the same facts as in part (b), except that net income included a loss from discontinued operations of $449,000 (net of tax). Compute earnings per share for 2021. (Round answer to 2 decimal places, e.g. $2.55.) Teal Corp. Income Statement TA