Reference no: EM132594290

Question: Marin Corporation began its latest fiscal year on January 1, 2021, with 470,000 common shares outstanding. During the year, the following events occurred:

• On February 1, Marin sold 14,800 additional common shares.
• The company declared and issued a 25% stock dividend on March 1.
• On June 1, Marin repurchased and cancelled 3,700 common shares.
• An additional 4,700 common shares were issued on July 1.
• On September 1, Marin declared and issued a three-for-one stock split.
• On December 1, Marin issued an additional 13,500 shares.
• Following the fiscal year, Marin declared and issued a two-for-one stock split on February 1, 2022.

The company issued its 2021 financial statements on April 30, 2022. Calculate the weighted average number of common shares that Marin should use for calculating its EPS numbers for 2021.

Calculate the Weighted average number of common shares.