On January 1, 2021, Sheffield Corp. had 474,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. Issued a 10% stock dividend February 1 Issued 126,000 shares March 1 May 1 June 1 October 1 Acquired 100,000 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 eTextbook and Media Assume that Sheffield Corp. earned net income of $3,346,000 during 2021. In addition, it had 103,000 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 $