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shares issued and shares outstanding

Required information Problem 11-25A (Static) Recording and reporting stock transactions and cash dividends across two accounting cycles LO 11-3, 116 [The following information applies to the questions displayed below.] Sun Corporation received a charter that authorized the issuance of 100,000 shares of $10 par common stock and 50,000 shares of $50 par, 5 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation. Year 1 January 5 sold 5,000 ahares of the $10 par eommon stock for $15 per share. fanuary 12 sold 1,000 whares of the 5 percent preforred atock for $55 per mare. April 5 sold 30,000 ahares of the $10 par conton atock tor $21 per ahare. December 31 During the year, earned $150,000 in cash revenue and paid $88,000 for cash operating expensen. December 31 Declared the cash dividend on the outitanding sharea of preforred stock for. Year 1 . the dividend will be paid on February 15 to ntockholdern of record on January 10 , Year 2 . December 31 closed the revenue, expense, and dividend accounts to the retained earnings account. Yefor 2 Februnry Paid the cash dividend declaced on December 31, Year 1. is March 3 sold 15,000 aharea of the $50 por preferked atock for $53 pet ahare. May 5 Purchaned 900 shares of the conton wtoek in treanury itoek at $24 per ahare. December Doring the year, earned $210,000 in eash revesues and paid $98,000 for canh operating expenies. 31 December Deolared the annual dividend on the preferred atock abd a 50.50 per ahare dividend on the contion 31 intock. Decenber closed revenue, expense, and dividend accounta to the retsined earnibigs account. 31 What is the number of common shares outstanding at the end of Year 1? At the end of Year 2 ? How many common had been issued at the end of Year 1? At the end of Year 2? (Amounts to be deducted should be indicated with minu c-1. What is the number of common shares outstanding at the end of Year 1? At the end of Year 2? been issued at the end of Year 1 ? At the end of Year 2? c-2. Is there a difference between issued and outstanding common shares for Year 1? For Year 2? Complete this question by entering your answers in the tabs below. Is there a difference between issued and-outstanding common shares for Year 1? For Year 2

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