First Cup Ltd., a Canadian coffee retailer and roaster which operates more than 1,000 cafes in Canada, reported the following balances as at December 31, 2020:

7% Par $100 convertible bonds, issued at par $250,000

3,000 call options, each entitled to purchase 1 common shar

Cumulative Preferred shares, 36,000 convertible shares outstanding $960,000

Common shares, 112,500 shares issued and outstanding $2,880,000

Contributed surplus on repurchase of common shares $31,200

Retained earnings $1,032,000

First Cup Ltd. applies IFRS. The company also informed you details related to the following transactions during 2020:

a] On February 1, the company declared and distributed a 20% stock dividend for its common shareholders. The shares were being traded in the market at $30.

b] On March 1, it acquired 18,000 of its own common shares in the market at $30.00 per share and retired them on the same day.

c] On April 1, the company issued 17,500 common shares in exchange for plant and equipment assessed at $336,000.

d] On May 1, 40% of the call option holders exercised their options when the market price of the common share was $31. As these options were issued before stock dividends, options holders receive an increased number of shares considering a 20% stock dividends (i.e. adjust for stock dividend).

e] On May 15, the company declared a 3:1 stock split on common shares. The common shares were being traded at the adjusted market price of $32.00 per share

f] On August 1, the company issued share certificates for 3,708 common shares to subscribers who had applied to an earlier share subscription issue. These subscribers had paid for the shares they had subscribed at $34 per share.

g] On October 1, 20% of the bond holders submitted their bonds to the company for conversion into common shares. As the bonds were issued before stock dividends and stock split, the number of shares given to reward conversion need to be adjusted consequently.

h] No Dividends have been declared in the previous two years. Dividends for the current year were also not declared.

Additional Information

i] The cumulative preferred shares had been issued several years ago when the company was incorporated. Cumulative preferred shares carried a dividend rate of $2.10 per share and as at January 1, 2020, one preferred share could be converted into two common shares.

ii] The company reported earnings from operations of $1,847,790 for 2020. There were no discontinued items to report in 2020.

iii] The bonds had been issued at par in 2017. Assume No premium was charged for the conversion rights and debt was credited for the full amount received. Each $100 bond was convertible into 8 common shares.

Required:

Determine the weighted average number of shares for determining the basic earnings per share for 2020 using this template

Date	# number of shares	Ratio	Restatement	WACS
1/1
1/2
1/3
1/4
1/5
15/5
1/8
1/10
			Balance WACS=