I am having some trouble figuring out what the weighted-average number of shares outstanding will be for 2007 and 2008. I need to have this information to present on comparative statements at the end of 2008.

Information:
450,000 shares no-par common stock issued and outstanding.
All shares were sold for $7.50 per share.
On June 30 2007 the firm issued an additional 135,000 shares for $7.00 per share.
The 2007 income was $319,200
On September 1, 2007 there was a 15% stock dividend issued to all common shareholders.

On October 1, 2008: 60,000 shares were reacquired as treasury shares.
Net Income in 2008 was $278,063

Thank you so much for your help!

The weighted average of outstanding shares is a calculation that incorporates any changes in the amount of outstanding shares over a reporting period. It is an important number, as it is used to calculate key financial measures such as earnings per share (EPS) for the time. Source (http://www.investopedia.com/ask/answers/05/weightedoutstandingshares.asp#ixzz1p8hErQqa)

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