Princess and Frog Corp. was formed on January 1, 2017. At that time, it issued 50,000 ordinary shares and 50,000, $100, cumulative 4% preferred shares. Subsequent transactions affecting its shareholdings follow: 

2017 

■ September 1: Princess issued 20,000, $100, non-cumulative 6% preferred shares. 

■ December 1: Princess issued 10,000 ordinary shares. 

■ Dividends were not declared in 2017. 

2018 

■ February 1: Princess issued 15,000 ordinary shares. 

■ June 1: Princess repurchased 20,000 shares and held them as treasury shares. 

■ July 1: Princess declared and paid $300,000 in dividends on the cumulative preferred shares, $60,000 on the non-cumulative preferred shares, and $50,000 on the ordinary shares. 

■ September 1: Princess reissued (sold) the 20,000 shares held in treasury. 

■ October 1: Princess declared and issued a two-for-one stock split on the ordinary shares. 

■ December 1: Princess declared and paid $100,000 in dividends on the cumulative preferred shares, $60,000 on the non-cumulative preferred shares, and $50,000 on the ordinary shares. 

■ Princess’s net income for the year ended December 31, 2018, was $500,000. Its tax rate was 30%. 

Required:

a. What was Princess’s weighted average number of ordinary shares outstanding in 2018? 

b. What was Princess’s basic EPS in 2018?