On January 1, 2021, Skysong Corp. had 2,727,000 shares of common stock issued and outstanding. During 2021, it had the following transactions that related to common stock. Mar. 1 Issued 234,000 shares in exchange for land Apr. 1 Acquired 189,000 shares of treasury stock July 1 Issued a 20% stock dividend Sept. 1 Reissued 226,800 shares of treasury stock (adjusted for 20% stock dividend) Oct. 1 Issued a 2-for-1 stock split (a) Your Answer Correct Answer (Used) Determine the weighted average number of shares outstanding as of December 31, 2021. The weighted-average number of shares outstanding 6,823,800 (b) Assume that Skysong Corp. earned net income of $8,055,000 during 2021. In addition, it had 195,000 shares of 8%, $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 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 $