The following information pertains to Tawa Corp.s outstanding stock for 2021:

Common stock, $1 par value
Shares outstanding, 1/1/2021	65,000
2-for-1 stock split, 4/1/2021
Shares issued, 7/1/2021	35,000
Preferred stock, $10 par value, 5% cumulative
Shares outstanding, 1/1/2021	13,000

How many shares should Tawa Corp. use to calculate 2021 basic earnings per share?

Multiple Choice

178,000

130,000

147,500

165,000