Brief Exercise 16-11Cullumber Corporation had 324,000 shares of common stock outstanding on January 1, 2017. On May 1, Cullumber issued 27,600 shares.(a) Compute the weighted-average number of shares outstanding if the 27,600 shares were issued for cash.Weighted-average number of shares outstanding$(b) Compute the weighted-average number of shares outstanding if the 27,600 shares were issued in a stock dividend.Weighted-average number of shares outstanding$
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