The company had begun their calendar fiscal year of 2018 with 560,000 common shares issued and outstanding. Mr. Jell provided you with additional information on the company's equity and debt transactions for the year.

• On February 1, it had issued 84,000 shares; 78,000 shares on May 1 and 43,200 shares on November 1, respectively.
• Further on April 1, it had acquired 12,000 shares from the market and had immediately cancelled them.
• The company also had outstanding at the beginning of the year, 8% convertible preferred shares capitalized at $950,000. The preferred shareholders were eligible to convert their shares into 64,000 common shares.
• Jupp Jellies had not declared any dividends since 2015.
• The company also reported convertible debt. These were bonds payable, issued at par on July 1, 2016, for $12,000,000 and paying interest annually at a 5% coupon rate. Each $1,000 par value bond could be converted into 5 common shares of the company. There was no premium recorded for the conversion feature.
• On October 1, 30% of the bondholders submitted their bonds for conversion to the company in exchange for common shares.
• Companies at Jupiter are taxed at a flat rate of 35%.

QUESTION: Determine the weighted average number of shares to determine the basic earnings per share for 2018.

**Please note, I am trying to find out what to do with the Oct 1st 30% conversion --> is this part to be included in finding my WACS?