The shareholders$$ equity accounts of Blue Bay Logistics Ltd$.$ on April $1,2023,$ the beginning of the fiscal year, are as follows:

$$6$ cumulative preferred shares $(20,000$ issued$)$

$$1,800,000$

Common shares $(500,000$ issued$)$

$3,750,000$

Retained earnings

$1,550,000$

Total shareholders$$ equity

$$7,100,000$

During the year, the following transactions occurred:

$2023$

June

$1$

Reacquired $12,000$ common shares for $$9$ per share.

July

$1$

Issued $50,000$ common shares for $$10$ per share.

Sept.

$30$

Reacquired $8,000$ common shares for $$9\mathrm{.}50$ per share.

$2024$

Jan.

$31$

Issued $60,000$ common shares in exchange for land. The land$$s fair value was $$600,000.$

Mar.

$31$

Profit for the year ended March $31,2024,$ was $$973,600.$

Instructions

Calculate the weighted average number of common shares for the year.

Assuming the preferred share dividends are one year in arrears, calculate the earnings per share if no preferred dividends are declared during the year.

What is the total number of common shares issued on March $31,2024?$