At January 1, Adams Enterprises had 1,200,000 common shares outstanding. Adams issued 252,000 shares on April 1, had a 3:1 stock split on August 1. On September 1, Adams repurchased 86,000 shares of treasury stock. Finally, on December 1, Adams issued 206,000 shares. The weighted average shares outstanding that Adams would use for basic earnings per share for the year is

2,587,500 shares

4,155,500 shares

4,476,000 shares

7,762,500 shares

None of the above