Waterway Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,210,000 shares of $12 par common stock. At no time has Waterway issued any potentially dilutive securities. Listed below is a summary of Waterway's common stock activities. 1. Number of common shares issued and outstanding at December 31, 2018 2. Shares issued as a result of a 12% stock dividend on September 30, 2019 1,890,000 226,800 3. Shares issued for cash on March 31, 2020 2,100,000 Number of common shares issued and outstanding at December 31, 2020 4,216,800 4. (a) A 2-for-1 stock split of Waterway's common stock took place on March 31, 2021 Your answer is incorrect. Compute the weighted-average number of common shares used in computing earnings per common share for 2019 on the 2020 comparative income statement. 1,946,700 shares