During 2018, Longhorn Corp. had net income of $300,000 and paid dividends to its preferred shareholders in the amount of $20,000. On January 1, 2018, the start of the year, the company had 100,000 common shares issued. On April 1, the company issued another 50,000 common shares. What is the weighted average number of shares on December 31, 2018? a. 137,500 shares b. 50,000 shares c. 150,000 shares d. 62,500 shares

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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During 2018, Longhorn Corp. had net income of $300,000 and paid dividends to its preferred shareholders in the amount of $20,000. On January 1, 2018, the start of the year, the company had 100,000 common shares issued. On April 1, the company issued another 50,000 common shares. What is the weighted average number of shares on December 31, 2018?

a. 137,500 shares
b. 50,000 shares
c. 150,000 shares
d. 62,500 shares
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