On January 1, 2026, Sheridan Corp. had 488,000 shares of common stock outstanding. During 2026, it had the following transactions that affected the common stock account.
February 1 Issued 115,000 shares
March 1 Issued a 10% stock dividend
May 1 Acquired 96,000 shares of treasury stock
June 1 Issued a 3-for-1 stock split
October 1 Reissued 61,000 shares of treasury stock
(a)
Determine the weighted-average number of shares outstanding as of December 31, 2026.
The weighted-average number of shares outstanding