Exercise 16-16 On January 1, 2018, Concord Corp. had 468,000 shares of common stock outstanding. During 2018, it had the following transactions that affected the Common Stock account. February 1 March 1 May 1 une 1 October 1 Issued 115,000 shares Issued a 10% stock dividend Acquired 96,000 shares of treasury stock Issued a 3-for-1 stock split Reissued 63,000 shares of treasury stock Your answer is incorrect. Try again. Determine the weighted-average number of shares outstanding as of December 31, 2018. The weighted-average number of shares outstanding 2730729 LINK TO TEXT Your answer is correct. Assume that Concord Corp. earned net income of $3,288,000 during 2018, In addition, it had 105,000 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 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 1.91