Use the following information to answer the next_2_questions. Jet Corp. had the following stock transactions for the year 2016. Common stock. $5 par value number of shares Shares outstanding. Jan. 1 20,000 100% stock dividend. April 1 20,000 shares sold, July 1 10,000 Treasury shares purchased, September 1 6,000 Preferred stock, $10 par value, 5% non-cumulative Shares outstanding, Jan. 1 4,000 What number of shares will Jet use in computing basic earnings per share? 37,000 43,000 60,000 48,000 How many shares of common stock are outstanding at year-end? 50,000 56,000 60,000 44,000