During 2011, Arthur Corporation reported a net income of $ 3,059,000. on january 1, Arthur had 2,800,000 shares of common stock outstanding. The company issued an additional 1,680.000 shares of common stock on October 1. In 2011, the company had a simple capital structure. During 2012, there were no transactions involving common stock, and the company reported net income of $4,032,000.
1. Determine the weighted average number of common shares outstanding each year.
2. Compute earnings per share for each year.