Iron and Giant Corp. was formed on January 1, 2017. At that time, it issued 80,000 ordinary shares and 120,000, $80, cumulative 3% preferred shares. Subsequent transactions affecting its shareholdings follow. (Click the icon to view the subsequent transactions.) X i Subsequent transactions Required a. What was Iron's weighted average number of ordinary shares outstanding in 2018? b. What was Iron's basic EPS in 2018? 2017 Requirement a. What was Iron's weighted average number of ordinary shares outstanding in 2018? (Abbre : Do not round until the final answers. Then round the contribution to WASO amounts to the nearest whole nu . September 1: Iron issued 200,000, $80, non-cumulative 4% preferred shares. Opening balance December 1: Iron issued 100,000 ordinary shares. of ordinary shares Fraction Share adjustment Dividends were not declared in 2017. Contribution Period (2018) outstanding 2018 factor to WASO . February 1: Iron issued 60,000 ordinary shares. Jan. 1 - Jan. 31 June 1: Iron repurchased 80,000 shares and held them as treasury shares. Feb. 1 - May 31 July 1: Iron declared and paid $432,000 in dividends on the cumulative preferred shares, Jun. 1 - Aug. 31 $320,000 on the non-cumulative preferred shares, and $160,000 on the ordinary shares. Sep. 1 - Sep. 30 September 1: Iron reissued (sold) the 80,000 shares held in treasury. Oct. 1 - Dec. 31 October 1: Iron declared and issued a two-for-one stock split on the ordinary shares. of year Weighted average number of ordinary shares outstanding December 1: Iron declared and paid $144,000 in dividends on the cumulative preferred shares, $320,000 on the non-cumulative preferred shares, and $160,000 on the ordinary shares. Iron's net income for the year ended December 31, 2018, was $1,000,000. Its tax rate was 30%. Choose from any list or enter any number in the input fields and then click Check Answer. - part