The shareholders' equity accounts of Cullumber Ltd. on April 1, 2023, the beginning of the fiscal...

  

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The shareholders' equity accounts of Cullumber Ltd. on April 1, 2023, the beginning of the fiscal year, are as follows: $8 cumulative preferred shares (17,000 issued) $1,190,000 Common shares (480,000 issued) Retained earnings Total shareholders' equity During the year, the following transactions occurred: 4,800,000 1,400,000 $7,390,000 2023 June 1 Reacquired 12,000 common shares for $11 per share. July 1 Issued 46,000 common shares for $12 per share. Reacquired 10,000 common shares for $11.50 per share. Sept. 30 Jan. 2024 31 Issued 60,000 common shares in exchange for land. The land's fair value was $720,000. Mar. 31 Profit for the year ended March 31, 2024, was $920,630. (a) Your answer is incorrect. Calculate the weighted average number of common shares for the year. Weighted average number of common shares The shareholders' equity accounts of Cullumber Ltd. on April 1, 2023, the beginning of the fiscal year, are as follows: $8 cumulative preferred shares (17,000 issued) $1,190,000 Common shares (480,000 issued) Retained earnings Total shareholders' equity During the year, the following transactions occurred: 4,800,000 1,400,000 $7,390,000 2023 June 1 Reacquired 12,000 common shares for $11 per share. July 1 Issued 46,000 common shares for $12 per share. Reacquired 10,000 common shares for $11.50 per share. Sept. 30 Jan. 2024 31 Issued 60,000 common shares in exchange for land. The land's fair value was $720,000. Mar. 31 Profit for the year ended March 31, 2024, was $920,630. (a) Your answer is incorrect. Calculate the weighted average number of common shares for the year. Weighted average number of common shares