Question 2:

On January 1, 2015, Warren Corporation had 1,000,000 ordinary shares outstanding. On March 1, the corporation issued 150,000 new shares to raise additional capital. On July 1, the corporation declared and issued a 2-for-1 share split. On October 1, the corporation purchased on the market 600,000 of its own outstanding shares and retired them (treasury shares).

Instructions

Compute the weighted average number of shares to be used in computing earnings per share for 2015.