Exercise 16-15

Sheffield Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,420,000 shares of $12 par common stock. At no time has Sheffield issued any potentially dilutive securities. Listed below is a summary of Sheffields common stock activities.

1.		Number of common shares issued and outstanding at December 31, 2015		2,010,000
2.		Shares issued as a result of a 12% stock dividend on September 30, 2016		241,200
3.		Shares issued for cash on March 31, 2017		2,060,000
		Number of common shares issued and outstanding at December 31, 2017		4,311,200
4.		A 2-for-1 stock split of Sheffields 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. b.Compute the weighted-average number of common shares used in computing earnings per common share for 2017 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 2017 on the 2018 comparative income statement. d.Compute the weighted-average number of common shares to be used in computing earnings per common share for 2018 on the 2018 comparative income statement.