I need help with par b. Can you please provide how you found the answer so I can understand. Thank you so much in advance!

Problem 16-06 (Part Level Submission) Blue Corporation is preparing the comparative financial statements for the annual report to its shareholders for fiscal years ended May 31, 2020, and May 31, 2021. The income from operations for the fiscal year ended May 31, 2020, was $1,719,000 and income from continuing operations for the fiscal year ended May 31, 2021, was $2,610,000. In both years, the company incurred a 10% interest expense on $2,335,000 of debt, an obligation that requires interest-only payments for 5 years. The company experienced a loss from discontinued operations of $610,000 on February 2021. The company uses a 20% effective tax rate for income taxes. The capital structure of Blue Corporation on June 1, 2019, consisted of 1,006,000 shares of common stock outstanding and 19,000 shares of $50 par value, 6%, cumulative preferred stock. There were no preferred dividends in arrears, and the company had not issued any convertible securities, options, or warrants. On October 1, 2019, Blue sold an additional 508,000 shares of the common stock at $20 per share. Blue distributed a 20% stock dividend on the common shares outstanding on January 1, 2020. On December 1, 2020, Blue was able to sell an additional 767,000 shares of the common stock at $22 per share. These were the only common stock transactions that occurred during the two fiscal years. (a) Your answer is correct. Identify whether the capital structure at Blue Corporation is a simple or complex capital structure. Simple Capital Structure (b) x Your answer is incorrect. Try again. Determine the weighted average number of shares that Blue Corporation would use in calculating earnings per share for the fiscal year ended: Weighted average number of shares (1) May 31, 2020 0.78 (2) May 31, 2021 0.63