Using weighted-average number of shares determined in part

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On January 1, 2015, Wilke Corp. had 569,000 shares of common stock outstanding. During 2015, it had the following transactions that affected the Common Stock account. February 1 Issued 148,000 shares March 1 Issued a 10% stock dividend May 1 Acquired 108,000 shares of treasury stock June 1 Issued a 3-for-1 stock split October 1 Reissued 66,900 shares of treasury stock Determine the weighted-average number of shares outstanding as of December 31, 2015. Assume that Wilke Corp. earned net income of $3,317,000 during 2015. In addition, it had 114,000 shares of 10%, $101 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 2015. Compute earnings per share for 2015, using the weighted-average number of shares determined in part (a).

Reference no: EM131220441

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