Exercise 17-14 (Part Level Submission) Sandhill Corporation is preparing earnings per share data for 2020. The net income for the year ended December 31, 2020, was $400,000 and there were 58,100 common shares outstanding during the entire year. Sandhill has the following two convertible securities outstanding: 11% convertible bonds (each $1,000 bond is convertible into 20 common shares) 4% convertible $100 par value preferred shares (each share is convertible into 2 common shares) $100,000 $49,000 Both convertible securities were issued at face value in 2017. Sandhill's income tax rate is 24%. The preferred shares are cumulative. For simplicity, ignore the requirement to record the debt and equity components of the bonds separately. Assume that 40% of the convertible bonds were converted to common shares on April 1, 2020. The balances at December 31, 2020 do not reflect the conversion of April 1, 2020. (a) Calculate Sandhill's weighted average common shares outstanding. (For your calculation, round bond value and final answer to 0 decimal places, e.g. 5,250.) Weighted average number of common shares shares