Question 2: (10 points): B1, C1, C3, D3

At the beginning of 2020 Kareem corporation had 50,000 of ordinary shares (C.S) outstanding. During 2020, it had the following transactions that affected the ordinary shares account:

February 15:	Issued 100,000 Shares.
April 1:	Issued a 10% stock dividend.
June 1:	Acquired 50,000 share of treasury stock.
August 1:	Issued a 2-for-1 stock split.
December 1:	Reissued 20,000 shares of treasury stock.

Instructions:

1. Determine the weighted-average number of shares outstanding as of December 31, 2020.
2. Assume the net income of the company is $500,000 and the preferred dividends $100,000. Compute EPS.