b. Compute the weighted-average number of common shares to be used in computing earnings per common share for 2016 on the 2017 comparative income statement.

c. Compute the weighted-average number of common shares to be used in computing earnings per common share for 2016 on the 2017 comparative income statement.

Exercise 16B-15 (Part Level Submission) Ivanhoe Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,770,000 shares of $10 par common stock. At no time has Ivanhoe issued any potentially dilutive securities. Listed below is a summary of Ivanhoe's common stock activities. 1. Number of common shares issued and outstanding at December 31, 2015 2. Shares issued as a result of a 10% stock dividend on September 30, 2016 3. Shares issued for cash on March 31, 2017 2,050,000 205,000 1,910,000 4,165,000 Number of common shares issued and outstanding at December 31, 2017 4. A 2-for-1 stock split of Ivanhoe's common stock took place on March 31, 2018 (a) Compute the weighted-average number of common shares used in computing earnings per common share for 2016 on the 2017 comparative income statement. shares