Exercise 16-15 Sandhill Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,210,000 shares of $12 par common stock. At no time has Sandhill issued any potentially dilutive securities. Listed below is a summary of Sandhill's common stock activities. Number of common shares issued and outstanding at December 31, 2015 Shares issued as a result of a 12% stock dividend on September 30, 2016 Shares issued for cash on March 31, 2017 Number of common shares issued and outstanding at December 31, 2017 A 2-for-1 stock split of Sandhill's common stock took place on March 31, 2018 2,040,000 244,800 1,870,000 4,154,800 1. 2. 3. 4. Compute the weighted-average number of common shares used in computing earnings per common share for 2016 on the 2017 comparative income statement shares Compute the weighted-average number of common shares used in computing earnings per common share for 2017 on the 2017 comparative income statement. shares Compute the weighted-average number of common shares to be used in computing earnings per common share for 2017 on the 2018 comparative income statement. shares