*RACK NERTE Exercise 16-15 On January 1, 2021, Sandhill Corp. had 479,000 shares of common stock outstanding. During 2021, I had the following transactions that affected the common stock account. February 1 Issued 117,000 shares March 1 Issued a 10% stock dividend May 1 Acquired 103,000 shares of treasury stock June 1 Issued a 3-for-1 stock split October 1 Reissued 59,000 shares of treasury stock Determine the weighted average number of shares outstandings of December 31, 2021 The weighted average number of shares outstanding LINK TO TEXT Assume that Sandhill Corp. camned net income of $3,408,000 during 2021. In addition, it had 102,000 shares of 10%, 5100 per non convertible, 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 there for 2021, vung te weighted average number of shares determined in part (a). (Round answer to 2 decimal places. $2.55.) Earnings Per Share $ Assume the same facts as in part (b), except that the preferred stock was cumulative. Compute earnings per share for 2021. (Hound answer to 2 decimal places, e.g. 12.15.) Earnings Per Share LINET TEXT Asume the same facts as in part (b), except that net income induced a los from discontinued operation of $426,000 inet of tax) Computeering per where for 2021. Round answer to ? decimal place, 2.55) Sandhill Corp. Income Statement