Exercise 16-16 On January 1, 2015, Wilke Corp. had570,000shares of common stock outstanding. During 2015, it had the following transactions that affected the Common Stock account.

February 1	Issued137,000shares
March 1	Issued a 10% stock dividend
May 1	Acquired105,000shares of treasury stock
June 1	Issued a 3-for-1 stock split
October 1	Reissued67,000shares of treasury stock

Determine the weighted-average number of shares outstanding as of December 31, 2015.

The weighted-average number of shares outstanding

Assume that Wilke Corp. earned net income of $3,330,000during 2015. In addition, it had107,000shares of10%, $102par 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 2015. Compute earnings per share for 2015, using the weighted-average number of shares determined in part (a).(Round answer to 2 decimal places, e.g. $2.55.)

Earnings Per Share

$

Assume the same facts as in part (b), except that the preferred stock was cumulative. Compute earnings per share for 2015.(Round answer to 2 decimal places, e.g. $2.55.)

Earnings Per Share

$

Assume the same facts as in part (b), except that net income included an extraordinary gain of $901,000and a loss from discontinued operations of $525,000. Both items are net of applicable income taxes. Compute earnings per share for 2015.(Round answer to 2 decimal places, e.g. $2.55.)

Wilke Corp. Income Statement For the year ended December 31, 2015
DividendsExpensesExtraordinary LossExtraordinary GainIncome Before Extraordinary ItemIncome From Continuing OperationsIncome Per Share Before Extraordinary ItemLoss From Discontinued OperationsNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues	$
DividendsExpensesExtraordinary LossExtraordinary GainIncome Before Extraordinary ItemIncome From Continuing OperationsIncome Per Share Before Extraordinary ItemLoss From Discontinued OperationsNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues
DividendsExpensesExtraordinary LossExtraordinary GainIncome Before Extraordinary ItemIncome From Continuing OperationsIncome Per Share Before Extraordinary ItemLoss From Discontinued OperationsNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues
DividendsExpensesExtraordinary LossExtraordinary GainIncome Before Extraordinary ItemIncome From Continuing OperationsIncome Per Share Before Extraordinary ItemLoss From Discontinued OperationsNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues
DividendsExpensesExtraordinary LossExtraordinary GainIncome Before Extraordinary ItemIncome From Continuing OperationsIncome Per Share Before Extraordinary ItemLoss From Discontinued OperationsNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues	$