On January 1, 2021, Sandhill Corp. had 459,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account.
February 1 Issued 126,000 shares
March 1 Issued a 10% stock dividend
May 1 Acquired 101,000 shares of treasury stock
June 1 Issued a 3-for-1 stock split
October 1 Reissued 62,000 shares of treasury stock
Required:
(a) Determine the weighted-average number of shares outstanding as of December 31, 2021.
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