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Determine the weighted$-$average number of shares outstanding as of Decernber $31,2026.$

The weighted$-$average number of shares outstanding

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$($b$)$

Assume that Cullumber Corp. earned net income of $$3,354,000$ during $2026.$ In addition, it had $101,000$ shares of $8\%,$$$100$ par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in $2026.$ Compute earnings per share for $2026,$ using the weighted$-$average number of shares determined in part $($a$).($Round answer to $2$ decimal places, es$.2\mathrm{.}55.)$

Earnings per share