E16-10 Weighted-average shares outstanding (L.O. 5) Autorama, Inc., began the year with 80,000 common shares outstanding On April 1, 28,000 newly issued shares were sold to the public for $45 per share. On August 1, the company reacquired 6,000 shares (i.e., treasury stock), which were subsequently reissued two months later. Calculate the weighted average shares outstanding during the year. 100,000