E16-16 (EPS: Simple Capital Structure) On January 1, 2015, Wilke Corp. had 480,000 shares of common stock outstanding. During 2015, it had the following transactions that affected the common stock account.

Instructions

February 1 March 1 May 1 June 1 October 1

Issued 120,000 shares Issued a 10% stock dividend Acquired 100,000 shares of treasury stock Issued a 3-for-1 stock split Reissued 60,000 shares of treasury stock

(a) Determine the weighted-average number of shares outstanding as of December 31, 2015.