At January $1,2023.$ Carla Vista Limited's outstanding shares included the following:

$294,000$ $$50$ par value, $8\%,$ cumulative preferred shares

$900,000$ common shares

Net income for $2023$ was $$2,107,700.$ No cash dividends were declared or paid during $2023.$ On February $15,2024,$ however, all preferred dividends in arrears were paid, together with a $10\%$ stock dividend on common shares. There were no dividends in arrears before $2023.$

On April $1,2023,530,000$ common shares were sold for $$12$ per share, and on October $1,2023,350,000$ common shares were purchased for $$24$ per share.

The financial statements for $2023$ were issued in March $2024.$

$($a$)$

Your answer is incorrect.

Calculate the weighted average number of common shares outstanding for the year ended December $31,2023.$

Weighted average number of shares outstanding