A)

Shrek Co. reports the following information about its common stock for 2021:

Date	Event
January 1	279,000 shares outstanding
April 1	Issued 54,000 shares
July 1	Purchased 30,000 shares of treasury stock
October 1	Issued a 70% stock dividend

What is the weighted-average number of shares to be used in computing earnings per common share in 2021?

515,100

517,650

568,650

304,500

B)

Simba Co. has convertible preferred stock outstanding, and reports the following information for 2021:

Item	Amount
Net income	$958,000
Common shares outstanding	171,000
Convertible preferred shares outstanding	270,000
Number of shares preferred stock converts into	161,000
Cash dividends on common stock (declared and paid)	$196,000
Cash dividends on preferred stock (declared and paid)	$182,000
Tax rate	15%

What is Simba Co.s diluted earnings per share for 2021, rounded to the nearest penny?

$2.89

$2.17

$3.43

$2.34