Problem III: (5 points) Arnold Corporation had 50,000 shares of common stock outstanding on January 1, 2021. Arnold had the following transactions occur during 2021 related to its common stock. On May 1, an additional 30,000 shares were issued. On August 1, 5,000 shares were bought back. On December 1, 1000 shares were reissued. Question: What is the weighted average number of common shares outstanding for 2021? Round calculations to the nearest whole month and whole share. Answer: shares Space for calculations