Question: On Jan 1, 2021, Gulf Company had 700,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the common stock account:

1/4/2021	1:	Issued 20,000 Shares.
1/5/2021	1:	Issued a 25% stock dividend.
1/8/2021	1:	Acquired 150,000 share of treasury stock.
1/11/2021	1:	Issued a 3-for-1 stock split.
1/12/2021	1:	Reissued 80,000 shares of treasury stock.

Instructions:

Determine the weighted-average number of shares outstanding as of December 31, 2021.

Assume the net income of the company is $5000,000 and the preferred dividends $100,000. Compute EPS.