2. The annual report for Kingsley Group, Inc., disclosed that 4 million shares of common stock have been authorized. At the end of last year, 2,800,000 shares had been issued and the number of shares in treasury stock was 360,000. During the current year, no additional shares were issued, but additional shares were purchased for treasury stock and shares were sold from treasury stock. The net change was a decrease of 50,000 shares of treasury stock. Determine the number of shares outstanding at the end of the current year.