Problem $1(15$ marks$)$

On January $1,2024,$ Elan Corporation had $702,000$ common shares outstanding $($no preferred issued$).$

During $2024,$ it had the following transactions that affected the common share account:

Feb. $1$ Issued $167,000$ shares.

Mar. $1$ Issued a $14\%$ stock dividend.

May $1$ Acquired $180,000$ common shares and retired them.

Jun. $1$ Issued a $3-$for$-1$ stock split.

Oct. $1$ Issued $78,000$ shares.

Required:

Determine the weighted average number of shares outstanding as at December $31,2020.$ Round to the nearest share.