Questions #2

At January 1, 2020, Crown Ltd. had 450,000 common shares outstanding. On March 1, the company issued 90,000 new shares to raise additional capital. On July 1, the company repurchased 20,000 shares. On October 1, the company declared A 50% stock dividends. On December 1, the company purchased on the open market 150,000 of its own shares and retired them. Crown had no preferred shares outstanding and reported $450,000 in 2020.

Instructions

Compute the weighted average number of common shares outstanding for 2020.