ABC Company had the following share transactions during the year: 

Jan 1, 2020, had a beginning balance of 100,000 shares 

April 1, 2020, issued 20,000 shares 

June 1, 2020, repurchased 30,000 shares 

Oct 1, 2020, repurchased 50,000 shares 

If the company’s net income was $1,000,000 on DEC 31, 2020, and it had $200,000 in preferred dividends,

A) Compute the weighted average number of common shares outstanding

B) Compute the Basic Earnings Per Share