Waterway Corporation had 291,000 shares of common st k ck outstanding on January 1, 2017. On May 1, Waterway Issued 31,200 shares (a) Compute the weighted-average number of shares outstanding if the 31,200 shares were issued for cash. Weighted-average number of shares outstanding (b) Compute the weighted-average number of shares outstanding if the 31,200 shares were issued in a stock dividend. Weighted-average number of shares outstanding