Please help me (b)Assume that Wildhorse Corp. earned net income of $3,346,000 during 2026. In addition, it had 100,000 shares of 9%, $100 parnonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, thecompany did not declare and pay a preferred dividend in 2026. Compute earnings per share for 2026, using the weighted-averagenumber of shares determined in part (a). (Round answer to 2 decimal places, eg. 2.55)Earnings per shareeTextbook and Media On January 1, 2026, Wildhorse Corp. had 474,000 shares of common stock outstanding, During 2026, it had the followingtransactions that affected the common stock account.February 1March 1May 1June 1October 1(a)Issued 126,000 sharesIssued a 10% stock dividendAcquired 100,000 shares of treasury stockIssued a 3-for-1 stock splitReissued 62.000 shares of treasury stockYour Answer Correct AnswerYour answer is correct.Determine the weighted-average number of shares outstanding as of December 31, 2026.The weighted average number of shares outstanding1760850

Formula : Earnings Per Share = (Net Income - Preference Dividend)/Weighted average number of…

Assume that Wildhorse Corp. earned net income of $3,346,000 during 2026. In addition, it had 100,000 shares of 9%, $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 2026. Compute earnings per share for 2026, using the weighted average number of shares determined in part (a). (Round answer to 2 decimal places, eg 2.55) Earnings per share $