On January 1, 2013, Wiley Company had 240,000 shares of common stock outstanding. During 2013, Wiley had the following transactions that affected the common stock account. February 1 March 1 May 1 Issued 60,000 shares Issued a 10% stock dividend Acquired 50,000 shares of treasury stock Reissued 20,000 shares of treasury stock October 1 Instructions: Determine the weighted-average number of shares outstanding as of December 31, 2013.5. Earnings per Share (a) In 2013, Barclay Company issued, at par, 450 $1,000, 8% bonds. Each bond is convertible into 100 shares of common stock. Barclay had revenues of $210,000 and expenses other than interest and taxes of $100,000 for 2013. The tax rate is 40%. Throughout 2013, 12,000 shares of common stock were outstanding. None of the bonds was converted in 2013. Instructions: (1) Compute basic earnings per share for 2013. (2) Compute diluted earnings per share for 2013. 5. Earnings Per Share (continued) (b) Parsons Company's net income for 2013 is $240,000. The only potentially dilutive securities outstanding were 1,000 options issued during 2012, each exercisable for one share of common stock at $32 per share. None has been exercised, and 20,000 shares of common stock were outstanding during 2013. The average market price of Parson's stock during 2013 was $80. Instructions: (1) Compute basic earnings per share for 2013. (2) Compute diluted earnings per share for 2013.