George Manufacturing had net income of $125,000 and declared preferred dividends of $20,000 during the current year. George began the year with 20,000 common shares outstanding. It issued 70,000 shares on Jun repurchased 12,000 of the newly issued shares on November 1. Compute George's weighted - average common shares outstanding for the year. O A. 88,000 OB. 90,000 O C. 53,000 OD. 78,000