Given the following transactions, compute the weighted average number of shares outstanding for the common share during the year: Date Relevant Events Number of Shares Jan. 1 Feb. 1 May 1 July 1 Sept.1 Dec. 1 Beginning shares outstanding Issued for cash Acquisition of treasury stock Resold part of treasury shares 50% stock dividend distributed Issued stock in exchange for land 40,000 10,000 6,000 3,200 50% of outstanding shares 13,200