Kindly answer c

Exercise 16-16 (Part Level Submission) On January 1, 2021, Buffalo Corp. had 474,000 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 120,000 shares Issued a 10% stock dividend Acquired 98,000 shares of treasury stock Issued a 3-for-1 stock split Reissued 58,000 shares of treasury stock (a) Your answer is correct. Determine the weighted-average number of shares outstanding as of December 31, 2021. The weighted-average number of shares outstanding 1745700 (b) Your answer is correct. Assume that Buffalo Corp. earned net income of $3,324,000 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 1.9 SHOW SOLUTION SHOW ANSWER LINK TO TEXT Attempts: 1 of 3 used (c) 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 S