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Exercise 16-16 (Part Level Submission) On January 1, 2015, Wilke Corp. had 537,000 shares of common stock outstanding. During 2015, it had the following transactions that affected the Common Stock account February 1 March 1 May 1 June 1 October1 Issued 149,000 shares Issued a 10% stock dividend Acquired 112,000 shares of treasury stock Issued a 3-for-1 stock split Reissued 79,000 shares of treasury stock (a) Your answer is incorrect. Try again Determine the weighted-average number of shares outstanding as of December 31, 2015 The weighted-average number of shares outstanding 2010575 SHOW SOLUTION SHOW ANSWER LINK TO TEXT VIDEO: SIMILAR PROBLEM Attempts: 3 of 3 used (b) Collapse question part Your answer is correct. Assume that Wilke Corp. earned net income of $3,283,000 during 2015, In addition, it had 119,000 shares of 996, $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 2015. Compute earnings per share for 2015, using the weighted-average number of shares determined in part (a). (Round answer to 2 decimal places, e.g. $2.55.) Earnings Per Share 1.63 SHOW SOLUTION SHOW ANSWER LINK TO TEXT VIDEO: SIMILAR PROBLEM Attempts: 1 of 3 used (c) Assume the same facts as in part (b), except that the preferred stock was cumulative. Compute earnings per share for 2015. (Round answer to 2 decimal places, e.g. $2.55.) Earnings Per Share LINK TO TEXT VIDEO: SIMILAR PROBLEM Attempts: 0 of 3 used