A portion of the combined statement of income and retained earnings of Blossom Ltd. for the...

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A portion of the combined statement of income and retained earnings of Blossom Ltd. for the current year ended December 31, 2023, follows: Income before discontinued operations $5,032,500 Loss from discontinued operations, net of applicable income tax (Note 1) 412,500 Net income 4,620,000 Retained earnings at beginning of year 23,200,000 27,820,000 Dividends declared: On preferred shares, $4.00 per share On common shares, $1.1 per share Retained earnings at end of year $220,000 1,650,000 1,870,000 $25,950,000 Note 1. During the year, Blossom suffered a loss from discontinued operations of $412,500 after the applicable income tax reduction of $103,125. At the end of 2023, Blossom has outstanding 1.50 million common shares and 55,000 preferred shares. On April 1, 2023, Blossom issued 1.00 million common shares for $5 per share to help finance the loss. (a) Determine the weighted average number of shares outstanding as at December 31, 2023. Weighted average number of shares outstanding A portion of the combined statement of income and retained earnings of Blossom Ltd. for the current year ended December 31, 2023, follows: Income before discontinued operations $5,032,500 Loss from discontinued operations, net of applicable income tax (Note 1) 412,500 Net income 4,620,000 Retained earnings at beginning of year 23,200,000 27,820,000 Dividends declared: On preferred shares, $4.00 per share On common shares, $1.1 per share Retained earnings at end of year $220,000 1,650,000 1,870,000 $25,950,000 Note 1. During the year, Blossom suffered a loss from discontinued operations of $412,500 after the applicable income tax reduction of $103,125. At the end of 2023, Blossom has outstanding 1.50 million common shares and 55,000 preferred shares. On April 1, 2023, Blossom issued 1.00 million common shares for $5 per share to help finance the loss. (a) Determine the weighted average number of shares outstanding as at December 31, 2023. Weighted average number of shares outstanding