Exercise 16-16 On January 1, 2021, Flounder Corp. had 501,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. February 1 March 1 May 1 June 1 October 1 Issued 126,000 shares Issued a 10% stock dividend Acquired 101,000 shares of treasury stock Issued a 3-for-1 stock split Reissued 57,000 shares of treasury stock Determine the weighted average number of shares outstanding as of December 31, 2021. The weighted average number of shares outstanding LINK TO TEXT Assume that Flounder Corp. earned net income of $3,308,000 during 2021. In addition, it had 99,000 shares of 8%, $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 2021. Compute earnings per share for 2021, 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 2021. (Round answer to 2 decimal places, e.g. $2.55.) Earnings Per Share LINK TO TEXT Assume the same facts as in part (b), except that net income included a loss from discontinued operations of $427,000 (net of tax). Compute earnings per share for 2021. (Round answer to 2 decimal places, e.g. $2.55.) Flounder Corp. Income Statement