Assume the following Common Stock activity for XYZ Co. in 2020:

January 1 Shares Outstanding 250,000

March 1 Shares Issued 80,000

May 1 Shares Acquired as Treasury 30,000

June 1 Issued 40% stock dividend

September 1 Shares Issued 100,000

October Issued 2 for 1 Stock Split

1. Compute the weighted average number of shares outstanding for the year 2020.
2. Assume XYZ has Net Income for the current year of $1,410,000. They also have 100,000 shares of $50 par value 7% Non-Cumulative Preferred Stock. No dividends were paid in current year. Compute Earnings Per Share for 2020.

Assume same facts as part b) except the Preferred Stock is Cumulative. Compute Earnings Per Share for 2020