We've now seen in the textbook some examples and homework problems showing how to calculate the value for the weighted$-$average number of common shares outstanding before subsequently calculating the Basic EPS. Sometimes for a problem we're simply given the number of weighted$-$average shares outstanding to directly plug in when computing Basic EPS, and that makes the calculation relatively easy. In other situations, though, we need to do the extra work involved to calculate the weighted$-$average number of common shares outstanding, and this can be a bit tedious. Now that we've already done these types of calculations in our homework, to follow up on a key point, does anyone care to again review and recap what is represented by the weighted$-$average number of common shares outstanding? If we're doing a calculation for Basic EPS, can't we simply plug into the denominator the number of common shares outstanding on the last day of the year?