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On January 1, 2026, Sheridan Corp. had 491,000 shares of common stock outstanding. During 2026,...

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Accounting

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On January 1, 2026, Sheridan Corp. had 491,000 shares of common stock outstanding. During 2026, it had the following transactions that affected the common stock account. February 1 Issued 116,000 shares: March 1 Issued a 10\% stock dividend May 1 Acquired 96.000 shares of treasury stock June 1 Issued a 3-for-1 stock split October 1 Reissued 59,000 shares of treasury stock (a) Yourariswer is correct. Determine the weighted-average number of shares outstanding as of December 31, 2026. The weighted-average number of shares outstanding eTextbook and Media Attempts: 1 of 3 used (b) Assume that Sheridan Corp. earned net income of $3,434,000 during 2026. In addition, it had 96,000 shares of 9%,$100 par noncomvertible, 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, eg. 2.55.) Earnings per share

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