When a Company Calculates Its Earnings Per Common Share for Its

Short Answer

When a company calculates its earnings per common share for its financial statements, it uses the weighted-average number of common shares outstanding during the year. Enertec Corp. began its fiscal year (January 1 to December 31) with 5 million common shares outstanding. Additional common shares were issued during the year as indicated in the following table.
What was average number of common shares outstanding during the year? (Assume that each month has the same length.)