Paul Company had 120,000 shares of common stock outstanding on January 1, 2011. On June 1, 2011, Paul sold 48,000 shares of common stock for cash. On August 30, Paul Company repurchased 18,000 shares of its own stock. Paul also had 10,000 shares of convertible preferred stock outstanding throughout 2011. The preferred stock is $100 par, 6%, and is convertible into 3 shares of common for each share of preferred. Reported net income for 2011 was $300,000 with a 40% tax rate. The regular common and preferred dividends were paid in 2011. Compute the weighted average of the common stock outstanding (WACSO) 2011