$14\mathrm{.}6$ Analyzing Shareholders' Equity

Newco Ltd$.$ had $100,000$ common shares issued on January $1^{st}.$ On April $1,$ the company reacquired $10,000$ of its own common shares On July $1^{st},10,000$ non$-$convertible preferred shares were issued. On October $1^{st},20,000$ common shares were issued. What will Newco use in the denominator for its earnings per share calculation?

$102,500$

$130,000$

$100,000$

$97,500$