On January 1, 2021. Sarasota Corp, had 502,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. February 1 March 1 May 1 June 1 October 1 Issued 125,000 shares Issued a 10% stock dividend Acquired 97,000 shares of treasury stock Issued a 3-for-1 stock split Reissued 62,000 shares of treasury stock Determine the weighted average number of shares outstanding as of December 31, 2021. The weighted-average number of shares outstanding e Textbook and Media Assume that Sarasota Corp.earned net income of $3,550,000 during 2021. 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 2021. Compute earnings per share for 2021, using the weighted- average number of shares determined in part (a). (Round answer to 2 decimal places, eg. $2.55.)