Question 2-(4 marks) The corporate charter of Hunter Corporation allows the issue of a maximum of 2,000,000, no par value, common shares. During its first three years of operation, Hunter issued 1,200,000 shares at $15 per share. In 2001, Hunter issued an additional 5,000 shares in return for equipment with a market value of $75,000. The market price of the shares was $16 at the time of the sale. Instructions Based on the above information, answer the following questions: (a) How many shares are authorized? (b) How many shares are issued? (c) What is the value of the Common Shares account at the end of 2001?