Check my work (Algo) Recording and reporting stock transactions and cash dividends across two accounting cycles LO 11-3, 11-6 (The following information applies to the questions displayed below) Sun Corporation received a charter that authorized the issuance of 99,000 shares of $6 par common stock and 22,000 shares of $100 par, 6 percent cumulative preferred stock Sun Corporation completed the following transactions during its first two years of operation Year 1 Jan. 5 sold 14,850 shares of the $6 par common stock for $8 per share. 12 Sold 2,200 shares of the 6 percent preferred stock for $110 per share Apr. 5 Sold 19,800 shares of the $6 par common stock for $10 per share. Dec. 31 During the year, earned $314,900 in cash revenue and paid $237,100 for cash operating expenses. 31 Declared the cash dividend on the outstanding shares of preferred stock for Year 1. The dividend will be paid on February 15 to stockholders of record on January 10, Year 2 Year 2 Feb. 15 Paid the cash dividend declared on December 31 Year 1. Mar. 3 Sold 3,300 shares of the $100 par preferred stock for 5120 per share. May. 5 Purchased 550 shares of the common stock as treasury stock at 512 peshare. Dec.31 During the year, earned $249,880 in cash revenues and paid $175,000 for cui operating expenses 31 Declared the annual dividend on the preferred stock and a $8.50 per share dividend on the common stock. 653 17 PM 17 Problem 11-26A (Algo) Part Part 2 of 2 c.1. What is the number of common shares outstanding at the end of Year 1? At the end of Year 2? How many common shares had been issued at the end of Year 1? At the end of Year 2? (Amounts to be deducted should be indicated with minus sign) 222 points Schedule of Number of Shares ot Common Stock Shares Shares Issued Outstanding Skiped Year 1 BOR ference 0 Totals Year 2 Next > Totats 17 17 Or 18