Handy Co. reported $290,000 of profit for 2021. The company also declared a dividend of $50,000 on their preferred shares for the same year. As of January 1, 2021, Handy Co. had 90,000 issued and outstanding common shares. The following events occurred during the year: May 1, 2021 June 30, 2021 September 1, 2021 Issued 60,000 common shares Repurchased and retired 10,000 common shares Issued a 20% common share dividend December 1, 2021 Required (7 marks): Issued 21,000 preferred shares a) Using the table below, calculate the weighted-average number of common shares for the year. Period Effect of Outstanding Shares Fraction of Weighted the year share dividend average