Assume the following information for K Corp:

Common Stock, $1.00 par, 218,000 shares issued, 195,000 shares outstanding

PaidIn

Capital in Excess of

ParCommon:

$1,660,000

Retained Earnings: $2,500,000

Treasury Stock: 23,000 shares purchased at $18 per share

Western Sales purchases an additional 16,000 shares of treasury stock at $21 per share.

1. What number of shares will be shown as issued?

2. What number of shares will be shown as outstanding?