On January 1, 2021, Culver Corp. had 487,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account.

February 1		Issued 122,000 shares
March 1		Issued a 10% stock dividend
May 1		Acquired 99,000 shares of treasury stock
June 1		Issued a 3-for-1 stock split
October 1		Reissued 58,000 shares of treasury stock

Determine the weighted-average number of shares outstanding as of December 31, 2021.

The weighted-average number of shares outstanding

enter the weighted-average number of shares outstanding as of December 31, 2018

Assume that Culver Corp. earned net income of $3,601,000 during 2021. In addition, it had 100,000 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 2021. Compute earnings per share for 2021, using the weighted-average number of shares determined in part (a). (Round answer to 2 decimal places, e.g. $2.55.)

Earnings Per Share

$enter earnings per share rounded to 2 decimal places

Assume the same facts as in part (b), except that the preferred stock was cumulative. Compute earnings per share for 2021. (Round answer to 2 decimal places, e.g. $2.55.)

Earnings Per Share

$ enter earnings per share rounded to 2 decimal places