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$.2\mathrm{.}55.)$

Earnings per share $

Attempts: $0$ of $1$ used

$($c$)$

The parts of this question must be completed in order. This part will be available when you complete the part above.

$($d$)$

The parts of this question must be completed in order. This part will be available when you complete the part above.

Current Attempt in Progress

Waterway Company issues $8,800$ shares of restricted stock to its CFO, Mary Tokar, on January $1,2025.$ The stock has a fair value of

$$440,000$ on this date. The service period related to this restricted stock is $5$ years. Vesting occurs if Tokar stays with the company

until December $31,2029.$ The par value of the stock is $$10.$ At December $31,2025,$ the fair value of the stock is $$498,000.$

$($a$)$

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Prepare the journal entries to record the restricted stock on January $1,2025($the date of grant$),$ and December $31,2026.($List all

debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not

indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Record

entries in the order displayed in the problem statement.$)$

Attempts: $1$ of $1$ used

$($b$)$

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On July $25,2029,$ Tokar leaves the company. Prepare the journal entry to account for this forfeiture. $($List debit entry before

credit entry. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no

entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit

entries.$)$

Attempts: $1$ of $1$ used

$($c$)$

Prepare the journal entries on January $1,2025,$ and December $31,2026,$ assuming that Waterway issued $8,800$ shares of

restricted stock units instead of $8,800$ shares of restricted stock. $($List all debit entries before credit entries. Credit account

titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No

Entry" for the account titles and enter $O$ for the amounts. Record entries in the order displayed in the problem

statement.$)$

$($d$)$

The parts of this question must be completed in order. This part will be available when you complete the part above.