On January $1,2026,$ Sandhill Corp. had $2,847,000$ shares of common stock issued and outstanding. During

$2026,$ it had the following transactions that related to common stock.

Mar. $1$ Issued $264,000$ shares in exchange for land

Apr. $1$ Acquired $186,000$ shares of treasury stock

July $1$ Issued a $20\%$ stock dividend

Sept. $1$ Reissued $223,200$ shares of treasury stock

$($adjusted for $20\%$ stock dividend$)$

Oct. $1$ Issued a $2-$for$-1$ stock split

$($a$)$

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Determine the weighted$-$average number of shares outstanding as of December $31,2026.$

The weighted$-$average number of shares outstanding

Attempts: $1$ of $1$ used

$($b$)$

Assume that Sandhill Corp. earned net income of $$9,030,000$ during $2026.$ In addition, it

had $216,000$ shares of $10\%,$$$100$ par value nonconvertible, cumulative 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 answers to $2$ decimal places, e$.$g$.2\mathrm{.}55.)$