Select Corporation was incorporated on January 2, 2020. The following information pertains to Select Corporation's 2020 common stock transactions. Jan. 2 Number of shares authorized 450,000 Jan. 2 Number of shares issued 153,000 Jul. 1 Number of shares reacquired but not canceled 9,000 Sept. 1 Two-for-one stock split Dec. 1 Reissued shares of treasury stock 9,000 Required a. Determine the weighted average number of shares of Select Corporation's common stock outstanding. Note: Round amount to the nearest whole number. Number of shares 0 b. Compute earnings per share for 2020 considering the following additional information: 1. Net income: $660,000 2. Preferred stock, 5%, cumulative 9,000 shares outstanding, $10 par value per share 3. Preferred stock dividends declared in 2020: $0