ch 15 Dilutive securities & EPS Question 3 (part b)

On January 1, 2026, Oriole Corp. had 459,000 shares of common stock outstanding. During 2026, it had the following transactions that affected the common stock account. February 1 Issued 123,000 shares March 1 Issued a 10\%stock dividend May 1 Acquired 101,000 shares of treasury stock June 1 Issued a 3-for-1 stock split October 1 Reissued 57,000 shares of treasury stock (a) Your answer is correct. Determine the weighted-average number of shares outstanding as of December 31,2026. The weighted-average number of shares outstanding Assume that Oriole Corp. earned net income of $3,577,000 during 2026. In addition, it had 101,000 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 2026. Compute earnings per share for 2026, using the weighted-average number of shares determined in part (a). (Round answer to 2 decimal places, es. 2.55.) Earnings per share