Exercise 16-16

On January 1, 2018, Ivanhoe Corp. had 459,000 shares of common stock outstanding. During 2018, it had the following transactions that affected the Common Stock account.

February 1		Issued 116,000 shares
March 1		Issued a 10% stock dividend
May 1		Acquired 100,000 shares of treasury stock
June 1		Issued a 3-for-1 stock split
October 1		Reissued 58,000 shares of treasury stock

Determine the weighted-average number of shares outstanding as of December 31, 2018. The weighted-average number of shares outstanding 1591350