Exercise 16-16 On January 1, 2018, Cheyenne Corp. had 482,000 shares of common stock outstanding. During 2018, it had the following transactions that affected the Common Stock account. February 1Issued 126,000 shares March 1 May 1 June 1 October 1 Issued a 10% stock dividend Acquired 104,000 shares of treasury stock Issued a 3-for-1 stock split Reissued 61,000 shares of treasury stock Determine the weighted-average number of shares outstanding as of December 31, 2018 The weighted-average number of shares outstanding LINK TO TEXT Assume that Cheyenne Corp. earned net income of $3,395,000 during 2018. In addition it had 105 000 shares or 10 % LO or 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 2018. Compute earnings per share for 2018, 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 $2.55.) except that the preferred stock was cumulative. Con pute earnings per share for2018 Roundans er to dec maplaces eg Earnings Per Share LINK TO TEX Assume the same facts as in part (b), except that net income included a loss from discontinued operations of $436,000 (net of tax). Compute earnings per share for 2018. (Round answer to 2 decimal places, e.g. $2.55.) Cheyenne Corp. Income Statement