On January 1, 2012, Chang Corp. had 480,000 shares of common stock outstanding. During 2012, it had the following transactions that affected the Common Stock account.

February 1         Issued 120,000 shares
March 1             Issued a 20% stock dividend
May 1                Acquired 100,000 shares of treasury stock
June 1                Issued a 3-for-1 stock split
October 1          Reissued 60,000 shares of treasury stock

Instructions
  (a) Determine the weighted-average number of shares outstanding as of December 31, 2012.
  (b) Assume that Chang Corp. earned net income of $3,256,000 during 2012. In addition, it had 100,000 shares of 9%, $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 2012. Compute earnings per share for 2012, using the weighted-average number of shares determined in part (a).
  (c) Assume the same facts as in part (b), except that the preferred stock was cumulative. Compute earnings per share for 2012.
  (d) Assume the same facts as in part (b), except that net income included an extraordinary gain of $864,000 and a loss from discontinued operations of $432,000. Both items are net of applicable income taxes. Compute earnings per share for 2012.