DeLoach Company incorporated on January 1,2023 and had the following four common stock transactions during the year: Issued 1,000 shares of $1 par common stock at par Issued 3,000 shares of $1 par common stock at $15 per share Issued 4,000 shares to $1 par common stock for land with a market value of $80,000 Purchased 500 shares of its $1 par common stock for a total price of $12,500 At December 31,2023 , the number of shares outstanding is a. $8,500 b. $7,500 c. $8,000 d. $4,000