Question: Kennett Corporation reported having 214 6 million shares outstanding at the

Kennett Corporation reported having 214.6 million shares outstanding at the end of its most recent fiscal year, ended December 31, 2012. On April 1, 2013, Kennett issued 36.2 million shares of common stock, at a price of $18 per share. On September 1, 2013, Kennett employees exercised stock options, requiring Kennett to issue an additional 27.4 million shares of common stock. Kennett had no other common share transactions during fiscal 2013.
a. How many shares of common stock did Kennett have outstanding at December 31, 2013?
b. What was Kennett’s weighted-average number of shares for the year ended December 31, 2013?

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