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Rayleigh Corporation follows IFRS and started Year 2 with 1,200,000 common shares outstanding. During Year 2, Rayleigh completed the following share transactions:
June 1: Issued 300,000 shares
July 31: Repurchased 200,000 shares
August 31: Issued 200,000 shares
September 30: 2 for 1 stock split
October 31: Issued 200,000 shares
Instructions
Problem 1: Calculate the weighted average number of shares outstanding for Year 2. Use a table to show your calculations. Clearly indicate your final answer.
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