Carla Vista Corporation Ltd$.$ has the capital structure shown below at the following fiscal year

The average market value of the common shares in $2023$ was $$8.$

Carla Vista's tax rate is $20\%.$

Carla Vista declared and paid a $$5,000$ dividend to common shareholders on June $1,2023.$

$($a$)$

Determine the weighted average number of common shares that would be used in calculating earnings per share for the year ended December $31,2023.$

Weighted average number of common shares $$ sharess ended December $31$:

$\backslash$table$[[$Number of common shares,$2023,2022],[$Number of non$-$convertible, non$-$cumulative preferred A shares,$720,000,570,000],[$Amount of $5\%$ convertible bonds,$50,000,50,000]]$

The following additional information is available.

On July $31,2023,$ Carla Vista exchanged common shares for a large piece of equipment. This was the only transaction that resulted in issuance of common shares in $2023.$

Income before discontinued operations for $2023$ was $$1,500,000,$ and a loss from discontinued operations of $$300,000$ was recorded, net of applicable tax recovery.

During $2023,$ dividends in the amount of $$4$ per share were paid on the preferred A shares.

Each $$1,000$ bond can be converted into $25$ common shares.

There were unexercised stock options, outstanding since $2020,$ that allow holders to purchase $20,000$ common shares at $$4$ per share.

Written warrants to purchase $10,000$ common shares at $$10$ per share were outstanding at the end of $2022,$ and no warrants