LUFTEIL ALLEMPFIUgress The shareholders' equity accounts of Crane Ltd. on April 1, 2020, the beginning of the fiscal year, are as follows: $7 cumulative preferred shares (21,000 issued) Common shares (500,000 issued) Retained earnings Total shareholders' equity $1,680,000 15.000,000 1,600,000 $8.280.000 During the year, the following transactions occurred: 2020 June 1 July 1 Sept. 30 2021 Jan. 31 Mar. 31 Reacquired 12.000 common shares for $11 per share. Issued 49,000 common shares for $12 per share. Reacquired 10,000 common shares for $11.50 per share. Issued 54,000 common shares in exchange for land. The land's fair value was $648,000. Profit for the year ended March 31, 2021, was $941,000. (a) Calculate the weighted average number of common shares for the year. Question 8 of 9 -11 Reacquired 10,000 common shares for $11.50 per share. Sept. 30 2021. Jan. 31 Mar. 31 Issued 54,000 common shares in exchange for land. The land's fair value was $648,000. Profit for the year ended March 31, 2021, was $941,000. (a) Calculate the weighted average number of common shares for the year. Weighted average number of common shares Save for Later Attempts: 0 of 2 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above