Pearl Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,480,000 shares of $10 par common stock. At no time has Pearl issued any potentially dilutive securities. Listed below is a summary of Pearls common stock activities.

1.		Number of common shares issued and outstanding at December 31, 2018		1,900,000
2.		Shares issued as a result of a 10% stock dividend on September 30, 2019		190,000
3.		Shares issued for cash on March 31, 2020		2,130,000
		Number of common shares issued and outstanding at December 31, 2020		4,220,000
4.		A 2-for-1 stock split of Pearls common stock took place on March 31, 2021

(b)

Compute the weighted-average number of common shares used in computing earnings per common share for 2020 on the 2020 comparative income statement.

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(c) Compute the weighted-average number of common shares used in computing earnings per common share for 2020 on the 2021 comparative income statement.

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(d)

Compute the weighted-average number of common shares used in computing earnings per common share for 2021 on the 2021 comparative income statement.

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