Mason Manufacturing had 600,000 shares of common stock outstanding and 150,000 shares of $100 par value preferred

Question:

Mason Manufacturing had 600,000 shares of outstanding and 150,000 shares of $100 preferred stock outstanding January 1, 2017. An additional 120,000 shares of were issued on August 1 and 24,000 common shares were repurchased and retired on December 1. Mason's preferred stock is not convertible into common shares.
Required:
Calculate the weighted-average number of common shares outstanding for purposes of computing Mason's 2017 basic earnings per share.
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...