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Sun Corporation received a charter that authorized the issuance of 94,000 shares of $5 par common stock and 19,000 shares of $125 par. 5 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation Year 1 January 5 Sold 14,100 shares of the $5 par comon stock for $7 per share. January 12 sold 1,900 shares of the 5 percent preferred stock for s135 per share, Apri1 5 sold 18,800 shares of the \$5 por comen stock for \$9 per share. Decenber 31 During the yeor, earned $314,800 in cash revenue and paid $238,100 for cash operating expenses. December 31 Declared the cash dividend on the outstanding shares of preferred stock for Year 1. The dividend will be poid on February 15 to stockholders of record on Januory 10 , year 2. December 31 Closed the revenue, expense, and dividend occounts to the retained earnings account. (3 separate entries) Year 2 February 15 Paid the cash dividend declared on December 31 , Year 1. March 3 sold 2,85e shares of the \$125 par preferred stock for $145 per share. Hay 5 Purchased 600 shares of the common stock as treasury stock at s1o per share. December 31 During the year, earned 3253,500 in cash revenves and pald $174,700 for cash operating expenses. Decenber 31 Declared the annual dividend on the preferred stock and a 30.75 per share dividend on the comon stock. December 31 Closed revenue, expense, and dividend occounts to the retained earnings account. (3 separate entries) 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? c-2. Is there a difference between issued and outstanding common shares for Year 1 ? For Year 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 ha 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? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. 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 27 (Amounts to be deducted should be indicated with minus 5 ign.) Sun Corporation received a charter that authorized the issuance of 94,000 shares of $5 par common stock and 19,000 shares of $125 par. 5 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation Year 1 January 5 Sold 14,100 shares of the $5 par comon stock for $7 per share. January 12 sold 1,900 shares of the 5 percent preferred stock for s135 per share, Apri1 5 sold 18,800 shares of the \$5 por comen stock for \$9 per share. Decenber 31 During the yeor, earned $314,800 in cash revenue and paid $238,100 for cash operating expenses. December 31 Declared the cash dividend on the outstanding shares of preferred stock for Year 1. The dividend will be poid on February 15 to stockholders of record on Januory 10 , year 2. December 31 Closed the revenue, expense, and dividend occounts to the retained earnings account. (3 separate entries) Year 2 February 15 Paid the cash dividend declared on December 31 , Year 1. March 3 sold 2,85e shares of the \$125 par preferred stock for $145 per share. Hay 5 Purchased 600 shares of the common stock as treasury stock at s1o per share. December 31 During the year, earned 3253,500 in cash revenves and pald $174,700 for cash operating expenses. Decenber 31 Declared the annual dividend on the preferred stock and a 30.75 per share dividend on the comon stock. December 31 Closed revenue, expense, and dividend occounts to the retained earnings account. (3 separate entries) 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? c-2. Is there a difference between issued and outstanding common shares for Year 1 ? For Year 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 ha 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? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. 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 27 (Amounts to be deducted should be indicated with minus 5 ign.)