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On January $1,2026,$ Wildhorse Corp. had $2,604,000$ shares of common stock issued and outstanding. During $2026,$ it had the

following transactions that related to common stock.

Mar. $1$ Issued $252,000$ shares in exchange for land

Apr. $1$ Acquired $207,000$ shares of treasury stock

July $1$ Issued a $20\%$ stock dividend

Sept. $1$ Reissued $248,400$ shares of treasury stock

$($adjusted for $20\%$ stock dividend$)$

Oct. $1$ Issued a $2-$for$-1$ stock split

$($a$)$

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

The weighted$-$average number of shares outstanding

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Current Attempt in Progress

On January $1,2026,$ Wildhorse Corp. had $2,604,000$ shares of common stock issued and outstanding. During

$2026,$ it had the following transactions that related to common stock.

Mar. $1$ Issued $252,000$ shares in exchange for land

Apr. $1$ Acquired $207,000$ shares of treasury stock

July $1$ Issued a $20\%$ stock dividend

Sept. $1$ Reissued $248,400$ shares of treasury stock

$($adjusted for $20\%$ stock dividend$)$

Oct. $1$ Issued a $2-$for$-1$ stock split

$($a$)$

Your answer is correct.

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

The weighted$-$average number of shares outstanding

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Attempts: $3$ of $3$ used

$($b$)$

Your answer is incorrect.

Assume that Wildhorse Corp. earned net income of $$9,021,000$ during $2026.$ In addition, it

had $189,000$ shares of $8\%,$$$100$ par value nonconvertible, cumulative preferred stock outstanding for the

entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred

dividend in $2021.$ Compute earnings per share for $2021,$ using the weighted$-$average number of shares

determined in part $($a$).($Round answers to $2$ decimal places, e$.$g$.2\mathrm{.}55.)$