On January 1, 2018, Shamrock Corp. had 478,000 shares of commonstock outstanding. During 2018, it had the following transactionsthat affected the Common Stock account. February 1 Issued 120,000shares March 1 Issued a 10% stock dividend May 1 Acquired 102,000shares of treasury stock June 1 Issued a 3-for-1 stock splitOctober 1 Reissued 59,000 shares of treasury stock Determine theweighted-average number of shares outstanding as of December 31,2018. The weighted-average number of shares outstanding LINK TOTEXT Assume that Shamrock Corp. earned net income of $3,582,000during 2018. In addition, it had 100,000 shares of 9%, $100 parnonconvertible, noncumulative preferred stock outstanding for theentire year. Because of liquidity considerations, however, thecompany did not declare and pay a preferred dividend in 2018.