Part A and B completed, need part C

Exercise 16-16 (Part Level Submission) On January 1, 2018, Sage Corp. had 459,000 shares of common stock outstanding. During 2018, it had the following transactions that affected the Common Stock account. February 1 March 1 May 1 June 1 October 1 Issued 126,000 shares Issued a 10% stock dividend Acquired 101,000 shares of treasury stock Issued a 3-for-1 stock split Reissued 62,000 shares of treasury stock (a) Your answer is correct. Determine the weighted average number of shares outstanding as of December 31, 2018. The weighted average number of shares outstanding 1709349 Click if you would like to Show Work for this question: Open Show Work (b) Your answer is correct. Assume that Sage Corp. earned net income of $3,383,000 during 2018. In addition, it had 96,000 shares of 10%, $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 2018. Compute earnings per share for 2018, using the weighted- average number of shares determined in part (a). (Round answer to 2 decimal places, e.g. $2.55.) Earnings Per Share 1.98 (c) Assume the same facts as in part (b), except that the preferred stock was cumulative. Compute earnings per share for 2018. (Round answer to 2 decimal places, e.g. $2.55.) Earnings Per Share $