Boreal Transit Corp. had 400,000 common shares outstanding o…

Bоreаl Trаnsit Cоrp. hаd 400,000 cоmmon shares outstanding on January 1.The following common share transactions occurred during the year:DateTransactionMarch 1Issued 120,000 common shares for cashJuly 1Reacquired and cancelled 60,000 common sharesOctober 1Distributed a 10% stock dividendDecember 1Completed a 2-for-1 stock splitBoreal reported net income of $2,268,000 for the year.The company also had 30,000 cumulative preferred shares outstanding throughout the year, each carrying an annual dividend of $4 per share. No preferred dividends were declared during the year, and there were no dividends in arrears at the beginning of the year.Which combination correctly reports Boreal’s weighted-average common shares and basic earnings per share?