On January 1, 2020, Sheridan Manufacturers had 336,000 common shares outstanding. On April 1, the corporation issued 33,600 new common shares to raise additional capital. On July 1, the corporation declared and distributed a 10% stock dividend on its common shares. On November 1, the corporation repurchased on the market 8,100 of its own outstanding common shares to make them available for issuances related to its key executives outstanding stock options.

(a) Incorrect answer icon Your answer is incorrect. Calculate the weighted average number of shares outstanding as at December 31, 2020. (Round answer to 0 decimal places, e.g. 5,255.)

(b) Assume that Sheridan Manufacturers had a 1-for-10 reverse stock split instead of a 10% stock dividend on July 1, 2020.