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Question - Kingbird Ltd. began its latest fiscal year on January 1, 2020, with 11,000 common shares outstanding. On April 1, Kingbird sold 2,400 additional common shares. The company declared and issued a 20% stock dividend on June 1. On July 1, Kingbird repurchased and cancelled 190 common shares. An additional 3,450 common shares were issued on September 1. On November 1, Kingbird declared and issued a 2-for-one stock split. On December 1, Kingbird issued an additional 120 shares. Following the fiscal year, Kingbird declared and issued a 3-for-one stock split on February 1, 2021. The company issued its 2020 financial statements on March 10, 2021. Calculate the weighted average number of common shares that Kingbird should use for calculating its EPS numbers for 2020.
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