On January $1,2023,$ Pharoah Ltd$.$ had $702,000$ common shares outstanding. During $2023,$ it had the following transactions that affected the common share account: Feb. $1$ Issued $160,000$ shares Mar. $1$ Issued a $10\backslash \%$ stock dividend May $1$ Acquired $181,000$ common shares and retired them June $\backslash (1\backslash$quad $\backslash )$ Issued a $3-$for$-1$ stock split Oct. $1$ Issued $78,000$ shares The company's year end is December $31.$ Determine the weighted average number of shares outstanding as at December $31,2023.($Round answer to $0$ decimal places, e$.$g$.5,275.)$ Your answer is incorrect.

Determine the weighted average number of shares outstanding as at December $31,2023.($Round answer to $0$ decimal places, e$.$g$.5,275.)$

Weighted average number of shares outstanding

shares Your answer is incorrect.

Assume that Pharoah earned net income of $\backslash (\backslash$$ $3,441,340\backslash )$ during $2023.$ In addition, it had $90,000$ of $\backslash (10\backslash \%,\backslash$$ $100\backslash )$ par, non$-$convertible, cumulative preferred shares outstanding for the entire year. Because of liquidity limitations$,$ however, the company did not declare and pay a preferred dividend in $2023.$

Calculate earnings per share for $2023$ using the weighted average number of shares determined above. $($Round answer to $2$ decimal places, e$.$g$.15\mathrm{.}25.)$

Earnings per share $\backslash$$

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