At January 1, 2023, Sheridan Limited's outstanding shares included the following: 341,000 $50 par value, 7%, cumulative preferred shares 900,000 common shares Net income for 2023 was $2,025,100. No cash dividends were declared or paid during 2023. On February 15, 2024, however, all preferred dividends in arrears were paid, together with a 5% stock dividend on common shares. There were no dividends in arrears before 2023. On April 1, 2023, 550,000 common shares were sold for $10 per share, and on October 1, 2023, 300,000 common shares were purchased for $20 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