Thomas Company began the year with 150,000 common shares outstanding. The firm issued an additional 75,000 shares

Question:

Thomas Company began the year with 150,000 common shares outstanding. The firm issued an additional 75,000 shares on May 1 and 15,000 shares on November 1. In addition, it implemented a two-for-one stock split on July 1. The firm’s year-end is December 31. Determine the weighted- average number of common shares outstanding for the year.