On January $1,2026,$ Sunland Corp. had $478,000$ shares of common stock outstanding. During $2026,$ it had the following transactions

that affected the common stock account.

February $1$ Issued $120,000$ shares

March $1$ Issued a $10\%$ stock dividend

May $1$ Acquired $102,000$ shares of treasury stock

June $1$ Issued a $3-$for$-1$ stock split

October $1$ Reissued $59,000$ shares of treasury stock

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

The weighted$-$average number of shares outstanding

eTextbook and Media

Assume that Sunland Corp. earned net income of $$3,582,000$ during $2026.$ In addition, it had $102,000$ shares of $9\%,$$$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 $2026.$ Compute earnings per share for $2026,$ using the weighted$-$average

number of shares determined in part $($a$).($Round answer to $2$ decimal places, e$.$g$.2\mathrm{.}55.)$

Earnings per share $

eTextbook and Media

Assume the same facts as in part $($b$),$ except that the preferred stock was cumulative. Compute earnings per share for

$($Round answer to $2$ decimal places, e$.$g$.2\mathrm{.}55.)$

Earnings per share $