Compute weighted average shares outstanding for 2021.

Weighted average shares outstanding:

Assume that the following data relative to Sandhill Company for 2021 is available: Net Income $2,860,000 Change Transactions in Common Shares Jan. 1, 2021, Beginning number Mar. 1, 2021, Purchase of treasury shares June 1, 2021, Stock split 2-1 Nov. 1, 2021, Issuance of shares (61,200) 588,800 204,000 Cumulative 650,000 588,800 1,177,600 1,381,600 $1,100,000 6% Cumulative Convertible Preferred Stock Sold at par, convertible into 220,000 shares of common (adjusted for split). Stock Options Exercisable at the option price of $25 per share. Average market price in 2021, $30 (market price and option price adjusted for split). 90,000 shares