Exercise 16-16 On January 1, 2018, Sweet Corp. had 479,000 shares of common stock outstanding. During 2018, it had the following transactions that affected the Common Stock count February 1 Issued 117,000 shares March 1 issued a 10% stock dividend May 1 Acquired 103,000 shares of treasury stock June 1 Issued a 3-for-1 stock split October 1 Reissued 59,000 shares of treasury stock Determine the weighted average number of shares outstanding as of December 31, 2018 The weighted average number of shares outstanding Assume that Sweet Corp, earned net income of $3,408,000 during 2018. In addition, had 102,000 shares of 109, $100 par non convertible, soncumulative med stock outstanding for the entire year. Because of liquidity considerations, however, the company did not dedare and pay a preferred dividend in 2018. Compute camins 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), except that the preferred stock was cumulative. Compute earnings per share for 2018. (Round answer to decimal places. $2.55) Farnings Per Share Assume the same facts as in part (b), except that net income included a loss from discontinued operations of $426,000 (net of tax). Compute earnings per share for 2011. Round answer to 2 decimal places, e $2.55.) Sweet Corp Income Statement Click if you would like to show Work for this question Open Show Work