A20-6 Weighted Average Common Shares (LO 20-2) The following cases are independent. Case A Jethrow Ltd. had 1,400,000 common shares outstanding on 1 January 20X2. On 27 February 204,000 shares were issued for $54 each. 304,000 shares were issued on 1 August. A 2-for-1 stock split was distributed on 30 August. Case B On 1 January 20X7, Doomsday Corp. had 204,000 nonvoting Series A shares and 604,000 Series B voting shares outstanding. Series A shares have a $3 per share cumulative dividend paid quarterly and are convertible into two Series B shares at any time after 31 December 20X9. On 1 October 20X7, 30,400 Series A shares were converted to B shares. On 1 December 20X7, 76,000 Series B shares were retired for cash. Required: For each case, calculate the number of weighted-average ordinary shares to use in the calculation of basic EPS. Assume a 31 December year-end.