On January 1 2010 the company had 50000 share of common stock outstanding. Durin

On January 1 2010 the company
had 50000 share of common stock outstanding. During 2010 Zigland had the
following transactions that affected its common stock account:March 1: Issued 70000 new shares
at a price of $15 per share to raise additional capital.April 1: Issued a 40% stock
dividend when the share price was $16 per share.June 1: Acquired 35000 shares
for the treasury at a cost of $18 per share.August 1: Issued 80000 new
shares at a price of $14 per share.November 1: Declared and issued a
3 for 1 stock split when the stock price was $21 per share.December 1: Reissued 20000 share
of treasury stock at a price of $22 per share.Compute the weighted average
number of shares Zigland should use in computing earnings per share for 2010. Show
your calculations.