On Dec31.08 XZ had 600.000 shares of common stock and 300.000 shares of 8% ,noncumulative , nonconvertible preferred stock issued and outstanding.
XZ issued a 4% common stock divident on May 15 and paid cash dividends of $400.000 and $75.000 to common and preferred shareholders, respectively ,on Dec 15,2009
On February 28,2009 XZ sold 60.000 common shares .In keeping with its long-term share repurchase plan, 2000 shares were retired on July 1
XZ net income for the year ended Dec 31.2009 was $2.100.000
Income tax rate is 40%
1. Calculate Weighted - average number of share outstanding for the year ended Dec,31,2009
2. Calculate earnings per share for the year ended Dec,31.2009