Answer:
<em>W-A outstanding shares:</em> 588,333
Explanation:
We must multiply the shares over the months outstanding from the transaction to year-end
<u>January 1st :</u> 480,000 x 12/12 = 480,000
<u>February 1st:</u> 120,000 x 11/12 = 110,000
<u>March 1st:</u> 10% stock dividends:
(480,000 + 120,000) x 10% = 60,000 x 10/12 = 50,000
<u>May 1st:</u> treasury stock:
100,000 x 8/12 = (66,667)
<u>October 1st</u> reissued shares:
60,000 x 3/12 = <u> 15,000 </u>
<em>weighted average oustanding shares:</em> 588,333