1.WildhorseCorporation had94,000common shares outstanding on December 31, 2019. During 2020, the company issued11,500shares on March 1, retired7,200shares on July 1, issued a20% stock dividend on October 1, and issued16,800shares on December 1. For 2020, the company reported net income of $376,000after a loss from discontinued operations of $50,800(net of tax). The company issued a 2-for-1 stock split on February 1, 2021, and the company's financial statements for the year ended December 31, 2020, were issued on February 28, 2021.

Calculate earnings per share for 2020 as it should be reported to shareholders.

2.On January 1, 2020,WildhorseLtd. had522,000common shares outstanding. During 2020, it had the following transactions that affected the common share account:

Feb. 1Issued154,000shares.Mar. 1Issued a20% stock dividend.May 1Acquired174,000common shares and retired them.June 1Issued a2-for-1 stock split.Oct. 1Issued43,000shares.

The company's year end is December 31.

a. Determine the weighted average number of shares outstanding as at December 31, 2020.

b. Assume thatWildhorseearned net income of $3,553,000during 2020. In addition, it had110,000of11%, $100par, non-convertible, non-cumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2020.

Calculate earnings per share for 2020, using the weighted average number of shares determined above.

c. Assume thatWildhorseearned net income of $3,553,000during 2020. In addition, it had110,000of11%, $100par, non-convertible, cumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2020.

Calculate earnings per share for 2020, using the weighted average number of shares determined above.

d. Assume thatWildhorseearned net income of $3,553,000during 2020. In addition, it had110,000of11%, $100par, non-convertible, non-cumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2020. Assume that net income included a loss from discontinued operations of $421,000, net of applicable income taxes.

Calculate earnings per share for 2020.