Calvert Excavation Consultants began the current year with 31,800 common shares outstanding. It issued additional shares of 16,800 and 20,400 on April 1 and September 1, respectively. The company also purchased 5,400 shares of treasury stock on November 1. The firm's year end is December 31. Based on this information, compute the weighted-average number of common shares outstanding for Calvert Excavation Consultants assuming that the company implemented a 8 % stock dividend on December

1. (Enter a decrease in shares outstanding with a minus sign or parentheses.)

		Number of Shares	Weight by Number of Months	Weighted-Average
Date	Event	Outstanding	Shares Are Outstanding	Shares Outstanding
1/1	Balance
4/1	New Issue
9/1	New Issue
11/1	Treasury Stock Purchase
	Subtotal
12/1	8% Stock Dividend
12/31	Balance