NEXT MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION BACK The following Information is available for Pharoah Inc., a company whose shares are traded on the Toronto Stock Exchange: Net Income for 2020 $151,000 Average market price of common shares during 2020 (adjusted for stock dividend) $18 December 31, 2020 (fiscal year end) market price of common shares $18 Income tax rate for fiscal year 2020 30% Change Transactions in common shares during 2020: Jan. 1, 2020, common shares outstanding Mar. 1, 2020, Issuance of common shares June 1, 2020, 10% stock dividend Nov. 1, 2020, repurchase of common shares 40,200 14,040 (40, 200) Cumulative shares 100, 200 140,400 154,440 114,240 Other Information: 1. For all of the fiscal year 2020, $117,000 of 6% cumulative convertible bonds have been outstanding. The bonds were issued at par and are convertible into a total of 9,000 common shares (adjusted for the stock dividend) at the option of the holder, and at any time after issuance. 2. Stock options for 21,600 common shares have been outstanding for the entire zozo fiscal year, and are exerdsable at the option price of $23 per share (adjusted for the stock dividend) 3. For all of the fiscal year 2020, $17.000 of 4% cumulative convertible preferred shares have been outstanding. The preferred Shares are convertible into a total for 16,000 common shares (adjusted for the stock dividend) at the option of the holder, and at any time after January 2025. (a) Determine the weighted average number of common shares that would be used in calculating earnings per share for the year ended December 31, 2020. (Round answer to o decimal places, e.9.5 275.) Weighted average number of common shares shares Attempts: 0 of 6 used SAVE POR LATER SUBMIT