Weighted Average Number of Shares Compute the weighted average number of shares outstanding for Steadman Company, which had simple capital structure, assuming that the following transactions in common stock occurred during the calendar year. Number of Shares $10 Par Value Transactions in Common Stock Date Jan. 1............................ Feb. 1............................ May 1. Aug. 1....... Sept.1.. Nov. 1. . Shares outstanding Issued for cash Acquired treasury stock 20% stock dividend Resold part of treasury stock shares Issued 2-for-1 stock split 76,000 48,000 (20,000) 20% of shares outstanding 15,000