Question: On Jan 1, 2021, Gulf Company had 700,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the common stock account: 1/4/2021 Issued 20,000 Shares. 1/5/2021 Issued a 25% stock dividend. 1/8/2021 1: Acquired 150,000 share of treasury stock. 1/11/2021 Issued a 3-for-l stock split. 1/12/2021 Reissued 80,000 shares of treasury stock. Instructions: Determine the weighted-average number of shares outstanding as of December 31, 2021 . Assume the net income of the company is $5000,000 and the preferred dividends $100,000. Compute EPS.   DO NOT GIVE SOLUTION IN IMAGE FORMAT

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A: Please find the answers to the above questions below:

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Q: On January transaction

A: In this question, we have to compute the average number of shares outstanding.

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Q: the weighted average shares outstanding for 2021.

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