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I'm trying to complete problem PR 14-4A in the 24th edition of Accounting by Warren Reeve and Duchac. The only item I'm having trouble with

I'm trying to complete problem PR 14-4A in the 24th edition of Accounting by Warren Reeve and Duchac. The only item I'm having trouble with is the journal entry for Dec. 27th, declaring a $0.16 per share dividend on common stock. I know that it's the number of outstanding shares times 0.16. I suspect that I'm calculating the outstanding shares incorrectly. Can you help

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