Milo Co. had 700,000 shares of common stock outstanding on January 1, issued 126,000 shares on May 1, purchased 63,000 shares of treasury stock on September 1, and issued 54,000 shares on November 1. The weighted average shares outstanding for the year is

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To calculate the weighted average shares:  - Jan-Apr (4 months): 700,000 shares  - May-Aug (4 months): 826,000 shares (700,000 + 126,000)  - Sep-Oct (2 months): 763,000 shares (826,000 - 63,000)  - Nov-Dec (2 months): 817,000 shares (763,000 + 54,000)  Weighted average = (700,000*4 + 826,000*4 + 763,000*2 + 817,000*2) / 12 = 772,000 shares.

Milo Co Had 700,000 Shares of Common Stock Outstanding on January