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What the weighted average of common shares outstanding

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Problem 1: As of Jan 1, 2021, Ranko Ltd had 900,000 common shares outstanding (no preferred shares). Throughout 2021, Ranko issued 120,000 shares on May 1, purchased 72,000 treasury shares on Sep 1, and issued another 84,000 shares on Nov 1. The "weighted" average of common shares outstanding for 2021, therefore, is:

Option 1: 1,018,000
Option 2: 970,000
Option 3: 938,000
Option 4: 994,000

Reference no: EM132834083

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