Sweet Corporation had 318,000 shares of common stock outstanding on January 1, 2017. On May 1, Sweet issued 31,500 shares. (a) Compute the weighted-average number of shares outstanding if the 31,500 shares were issued for cash.

Weighted-average number of shares outstanding

$

(b) Compute the weighted-average number of shares outstanding if the 31,500 shares were issued in a stock dividend.

Weighted-average number of shares outstanding

$