On January 1, 2021, Nichols Corporation had 500,000 shares of common stock outstanding. During 2021 there were the following changes:

March 1 - issued 150,000 shares

April 1 - issued a 15% stock dividend

May 1 - acquired 50,000 shares of treasury stock

July 1 - issued a 2-1 stock split

October 1 - reissued 60,000 shares of treasury stock

Instructions: Compute the weighted average shares outstanding for 2021