On January 1, 2018, Vermont Maple Corp. had 2,650,000 shares of common stock issued and outstanding. During 2018, it had the following transactions that affected the common stock account.

Mar. 1	Issued 250,000 shares in exchange for land
Apr. 1	Acquired 200,000 shares of treasury stock
July 1	Issued a 20% stock dividend
Sept. 1	Reissued 240,000 shares of treasury stock (adjusted for 20% stock dividend)
Oct. 1	Issued a 2-for-1 stock split

(a) Determine the weighted average number of shares outstanding as of December 31, 2018.

(b) Assume that Vermont Maple Corp. earned net income of $8,352,000 during 2018. In addition, it had 200,000 shares of 9%, $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 2017 or 2018. Compute earnings per share for 2018, using the weighted-average number of shares determined in part (a).

(c) Assume the same facts as in part (b), except that the preferred stock was noncumulative. Compute earnings per share for 2018.

(d) Assume the same facts as in part (b), except that net income included a loss from discontinued operations of $500,000, net of $300,000 in income taxes. Compute earnings per share for 2018.