QUESTION 2 On January 1, Farm Company had 600,000 shares of common stock outstanding. The company issued 900,000 shares on July 1, and had net income of $2,940,000 for the year ending December 31, 2018. Earnings per share of common stock for 2018 would be $2.80. $3.28. $2.32. $4.90. QUESTION 3 When a company has a complex capital structure, it must report both basic and diluted earnings per share. True False QUESTION 4 On January 1, 2021, Horsebarn, Inc had 375,000 shares of its $2 par value common stock outstanding. On March 1, Horsebarn sold an additional 750,000 shares on the open market at $20 per share. Horsebarn issued a 20% stock dividend on May 1. On September 1, Horsebarn purchased 420,000 shares as treasury stock. What is the weighted average number of shares outstanding for 2021